AdvisorShares Investments LLC Sells 13,922 Shares of DiamondRock Hospitality Company $DRH

AdvisorShares Investments LLC lessened its stake in DiamondRock Hospitality Company (NYSE:DRH) by 64.8% in the second quarter, HoldingsChannel reports. The firm owned 7,578 shares of the real estate investment trust’s stock after selling 13,922 shares during the period. AdvisorShares Investments LLC’s holdings in DiamondRock Hospitality were worth $58,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its holdings in DiamondRock Hospitality by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 298,326 shares of the real estate investment trust’s stock valued at $2,285,000 after purchasing an additional 1,578 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in DiamondRock Hospitality by 2.4% in the first quarter. Wolverine Asset Management LLC now owns 86,304 shares of the real estate investment trust’s stock valued at $666,000 after purchasing an additional 2,016 shares during the last quarter. Sei Investments Co. increased its holdings in DiamondRock Hospitality by 0.6% in the first quarter. Sei Investments Co. now owns 360,243 shares of the real estate investment trust’s stock valued at $2,781,000 after purchasing an additional 2,311 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in DiamondRock Hospitality by 4.9% in the first quarter. Teacher Retirement System of Texas now owns 53,632 shares of the real estate investment trust’s stock valued at $414,000 after purchasing an additional 2,525 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in DiamondRock Hospitality by 10.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 35,107 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 3,369 shares during the last quarter.

DiamondRock Hospitality Stock Down 0.2%

Shares of DiamondRock Hospitality stock opened at $7.85 on Friday. 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 company has a market capitalization of $1.61 billion, a P/E ratio of 30.17 and a beta of 1.38. The business has a 50-day moving average of $8.08 and a two-hundred day moving average of $7.83. DiamondRock Hospitality Company has a 1 year low of $6.18 and a 1 year high of $10.00.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $305.70 million during the quarter, compared to analysts’ expectations of $303.70 million. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.DiamondRock Hospitality’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. As a group, equities analysts predict 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. Stockholders of record on Tuesday, September 30th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 30th. DiamondRock Hospitality’s dividend payout ratio is currently 123.08%.

Analyst Ratings Changes

DRH has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, October 22nd. Wells Fargo & Company upgraded DiamondRock Hospitality to a “hold” rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.