Bank of America Corp DE Increases Stock Position in DiamondRock Hospitality Company $DRH

Bank of America Corp DE increased its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 7.2% during the first quarter, Holdings Channel.com reports. The firm owned 8,987,338 shares of the real estate investment trust’s stock after buying an additional 606,962 shares during the period. Bank of America Corp DE’s holdings in DiamondRock Hospitality were worth $84,211,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in DiamondRock Hospitality by 223.2% in the first quarter. AQR Capital Management LLC now owns 65,376 shares of the real estate investment trust’s stock worth $505,000 after buying an additional 45,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in DiamondRock Hospitality by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,672 shares of the real estate investment trust’s stock valued at $955,000 after acquiring an additional 5,971 shares in the last quarter. United Services Automobile Association bought a new stake in DiamondRock Hospitality during the 1st quarter valued at $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in DiamondRock Hospitality by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,327,841 shares of the real estate investment trust’s stock valued at $10,251,000 after acquiring an additional 48,558 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at $99,000.

Analysts Set New Price Targets

Several research analysts have recently commented on DRH shares. Truist Financial boosted their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Morgan Stanley raised their price objective on DiamondRock Hospitality from $9.60 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Stifel Nicolaus lifted their target price on DiamondRock Hospitality from $12.50 to $13.25 and gave the company a “hold” rating in a research note on Friday, July 31st. Barclays boosted their target price on shares of DiamondRock Hospitality from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, Wells Fargo & Company increased their price target on shares of DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.22.

Insider Activity

In related news, Director Michael A. Hartmeier sold 20,000 shares of DiamondRock Hospitality stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.46, for a total value of $209,200.00. Following the completion of the sale, the director directly owned 95,354 shares in the company, valued at $997,402.84. This trade represents a 17.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Merrill sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $11.88, for a total transaction of $237,600.00. Following the sale, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. This represents a 19.17% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Price Performance

NYSE DRH opened at $12.53 on Friday. The firm’s fifty day simple moving average is $12.25 and its two-hundred day simple moving average is $10.74. The firm has a market capitalization of $2.56 billion, a P/E ratio of 50.12, a P/E/G ratio of 4.50 and a beta of 0.98. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a 12-month low of $7.45 and a 12-month high of $13.79.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 EPS for the quarter, beating the consensus estimate of $0.22 by $0.22. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The firm had revenue of $318.29 million during the quarter, compared to analyst estimates of $314.98 million. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 EPS. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. Analysts forecast that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 30th. This is a positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.5%. DiamondRock Hospitality’s payout ratio is presently 60.27%.

DiamondRock Hospitality 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.