SG Americas Securities LLC Buys 194,542 Shares of DiamondRock Hospitality Company $DRH

SG Americas Securities LLC grew its stake in DiamondRock Hospitality Company (NYSE:DRH) by 1,659.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 206,263 shares of the real estate investment trust’s stock after buying an additional 194,542 shares during the quarter. SG Americas Securities LLC’s holdings in DiamondRock Hospitality were worth $1,642,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in DRH. AQR Capital Management LLC grew its position 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 acquiring an additional 45,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in DiamondRock Hospitality by 5.1% during the first 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 purchasing an additional 5,971 shares in the last quarter. United Services Automobile Association bought a new stake in DiamondRock Hospitality during the first quarter worth about $91,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of DiamondRock Hospitality by 3.8% in 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 worth $10,251,000 after purchasing an additional 48,558 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of DiamondRock Hospitality during the 1st quarter valued at about $304,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on DRH shares. Evercore ISI boosted their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “in-line” rating in a research report on Thursday, November 20th. Wells Fargo & Company boosted their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday, December 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DiamondRock Hospitality in a research note on Wednesday, October 8th. Truist Financial upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.00 to $11.00 in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $12.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.91.

DiamondRock Hospitality Stock Up 0.9%

Shares of DiamondRock Hospitality stock opened at $9.30 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. DiamondRock Hospitality Company has a 52-week low of $6.18 and a 52-week high of $9.49. The company’s 50 day moving average price is $9.07 and its 200-day moving average price is $8.38. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 37.20, a P/E/G ratio of 4.50 and a beta of 1.03.

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

DiamondRock Hospitality Announces Dividend

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

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.