Wolverine Asset Management LLC Acquires New Stake in DiamondRock Hospitality Company $DRH

Wolverine Asset Management LLC bought a new stake in shares of DiamondRock Hospitality Company (NYSE:DRH) in the third quarter, Holdings Channel reports. The firm bought 404,078 shares of the real estate investment trust’s stock, valued at approximately $3,216,000.

Several other institutional investors also recently bought and sold shares of DRH. Bayforest Capital Ltd acquired a new stake in shares of DiamondRock Hospitality during the third quarter worth about $441,000. SG Americas Securities LLC lifted its holdings in DiamondRock Hospitality by 1,659.8% during the 3rd quarter. SG Americas Securities LLC now owns 206,263 shares of the real estate investment trust’s stock worth $1,642,000 after buying an additional 194,542 shares in the last quarter. CWA Asset Management Group LLC boosted its position in DiamondRock Hospitality by 9.6% in the 3rd quarter. CWA Asset Management Group LLC now owns 169,502 shares of the real estate investment trust’s stock valued at $1,349,000 after buying an additional 14,822 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of DiamondRock Hospitality by 0.6% in the third quarter. Asset Management One Co. Ltd. now owns 295,567 shares of the real estate investment trust’s stock worth $2,353,000 after acquiring an additional 1,792 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of DiamondRock Hospitality by 137.8% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 386,900 shares of the real estate investment trust’s stock worth $3,080,000 after acquiring an additional 224,200 shares during the period.

Analysts Set New Price Targets

A number of research firms recently issued reports on DRH. Deutsche Bank Aktiengesellschaft upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.00 to $12.00 in a report on Tuesday. Morgan Stanley lowered their price objective on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 22nd. Wells Fargo & Company raised their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, December 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of DiamondRock Hospitality in a report on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, DiamondRock Hospitality presently has an average rating of “Hold” and an average target price of $9.91.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock opened at $9.31 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a 52 week low of $6.18 and a 52 week high of $9.49. The firm’s 50 day moving average is $9.08 and its two-hundred day moving average is $8.39. The firm has a market capitalization of $1.90 billion, a P/E ratio of 37.24, a P/E/G ratio of 4.50 and a beta of 1.03.

DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Thursday, November 6th. The real estate investment trust reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The firm had revenue of $285.38 million for the quarter, compared to the consensus estimate of $277.45 million. During the same period last year, the firm posted $0.27 EPS. The company’s revenue was up .1% on a year-over-year basis. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. Research analysts forecast that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, December 31st. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 128.00%.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of upscale, full-service hotels in urban gateway markets across the United States. Established in 2004 and headquartered in Bethesda, Maryland, the company focuses on investing in high-quality lodging properties that cater to both business and leisure travelers. Its assets are positioned in key metropolitan areas, enabling DiamondRock to benefit from strong demand drivers such as corporate travel, group conventions and resort leisure stays.

The company’s portfolio includes full-service hotels offering a broad range of amenities, including guest rooms, on-site food and beverage outlets, meeting and event space, fitness centers and spa services.