DiamondRock Hospitality (NYSE:DRH) CAO Steve Spierto Sells 4,000 Shares

DiamondRock Hospitality Company (NYSE:DRH) CAO Steve Spierto sold 4,000 shares of DiamondRock Hospitality stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $9.93, for a total value of $39,720.00. Following the completion of the transaction, the chief accounting officer owned 77,977 shares of the company’s stock, valued at approximately $774,311.61. This represents a 4.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock traded down $0.13 on Thursday, reaching $9.88. The company’s stock had a trading volume of 477,661 shares, compared to its average volume of 2,909,893. DiamondRock Hospitality Company has a 52-week low of $6.18 and a 52-week high of $10.67. The company has a market capitalization of $2.01 billion, a P/E ratio of 39.52, a PEG ratio of 4.50 and a beta of 0.98. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average price of $9.51 and a 200-day moving average price of $8.80.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Thursday, February 26th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The company had revenue of $274.53 million during the quarter, compared to analysts’ expectations of $273.18 million. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. DiamondRock Hospitality has set its FY 2026 guidance at 1.090-1.160 EPS. Analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 31st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, March 31st. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.08. DiamondRock Hospitality’s payout ratio is 81.82%.

Institutional Trading of DiamondRock Hospitality

Several hedge funds have recently added to or reduced their stakes in DRH. State Street Corp boosted its holdings in DiamondRock Hospitality by 0.8% in the second quarter. State Street Corp now owns 12,587,578 shares of the real estate investment trust’s stock valued at $97,400,000 after purchasing an additional 93,929 shares in the last quarter. Bank of America Corp DE lifted its position in shares of DiamondRock Hospitality by 17.5% during the 2nd quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock worth $70,717,000 after buying an additional 1,377,897 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of DiamondRock Hospitality by 5.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 9,152,343 shares of the real estate investment trust’s stock valued at $72,853,000 after buying an additional 475,611 shares in the last quarter. Centersquare Investment Management LLC grew its position in shares of DiamondRock Hospitality by 3.2% in the 4th quarter. Centersquare Investment Management LLC now owns 7,780,988 shares of the real estate investment trust’s stock valued at $69,718,000 after buying an additional 244,013 shares during the last quarter. Finally, Cohen & Steers Inc. acquired a new stake in DiamondRock Hospitality during the 4th quarter worth $59,231,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DRH. Wells Fargo & Company raised their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, December 1st. Barclays initiated coverage on shares of DiamondRock Hospitality in a report on Tuesday, January 6th. They set an “equal weight” rating and a $10.00 price target for the company. Truist Financial upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $11.00 in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft raised DiamondRock Hospitality from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $12.00 in a research note on Tuesday, January 13th. Finally, Evercore lifted their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research report on Thursday, November 20th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $9.91.

DiamondRock Hospitality Company Profile

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.