Lightrock Netherlands B.V. Sells 229,109 Shares of DiamondRock Hospitality Company $DRH

Lightrock Netherlands B.V. decreased its position in DiamondRock Hospitality Company (NYSE:DRH) by 38.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360,000 shares of the real estate investment trust’s stock after selling 229,109 shares during the quarter. Lightrock Netherlands B.V. owned 0.17% of DiamondRock Hospitality worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DRH. Nuveen LLC purchased a new position in shares of DiamondRock Hospitality in the first quarter worth about $18,262,000. Deutsche Bank AG increased its holdings in shares of DiamondRock Hospitality by 723.6% in the first quarter. Deutsche Bank AG now owns 2,268,828 shares of the real estate investment trust’s stock worth $17,515,000 after buying an additional 1,993,345 shares during the period. H 2 Credit Manager LP increased its holdings in shares of DiamondRock Hospitality by 35.6% in the first quarter. H 2 Credit Manager LP now owns 5,075,150 shares of the real estate investment trust’s stock worth $39,180,000 after buying an additional 1,333,705 shares during the period. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of DiamondRock Hospitality by 66.7% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,748,875 shares of the real estate investment trust’s stock worth $21,221,000 after buying an additional 1,100,070 shares during the period. Finally, Dark Forest Capital Management LP increased its holdings in shares of DiamondRock Hospitality by 5,687.6% in the first quarter. Dark Forest Capital Management LP now owns 750,823 shares of the real estate investment trust’s stock worth $5,796,000 after buying an additional 737,850 shares during the period.

DiamondRock Hospitality Stock Down 1.3%

Shares of NYSE:DRH opened at $7.72 on Wednesday. DiamondRock Hospitality Company has a 1 year low of $6.18 and a 1 year high of $10.00. The company has a market cap of $1.58 billion, a PE ratio of 29.67 and a beta of 1.38. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s 50-day moving average is $8.10 and its 200 day moving average is $7.81.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The company had revenue of $305.70 million for the quarter, compared to the consensus estimate of $303.70 million. During the same quarter in the previous year, the business earned $0.34 EPS. DiamondRock Hospitality’s revenue was down 1.2% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. Sell-side analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 30th. DiamondRock Hospitality’s payout ratio is presently 123.08%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company upgraded DiamondRock Hospitality to a “hold” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. Finally, Morgan Stanley decreased their price objective on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.88.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.