MQS Management LLC Takes Position in DiamondRock Hospitality Company $DRH

MQS Management LLC bought a new stake in shares of DiamondRock Hospitality Company (NYSE:DRH) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 86,088 shares of the real estate investment trust’s stock, valued at approximately $659,000.

Other hedge funds have also modified their holdings of the company. DRW Securities LLC acquired a new position in DiamondRock Hospitality during the first quarter worth $84,000. GAMMA Investing LLC lifted its position in shares of DiamondRock Hospitality by 372.6% during the second quarter. GAMMA Investing LLC now owns 10,927 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 8,615 shares in the last quarter. United Services Automobile Association bought a new position in DiamondRock Hospitality in the 1st quarter valued at $91,000. Ethic Inc. bought a new position in DiamondRock Hospitality in the 2nd quarter valued at $96,000. Finally, Walleye Capital LLC bought a new position in DiamondRock Hospitality in the 1st quarter valued at $97,000.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $7.81 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 30.02 and a beta of 1.38. The stock’s 50 day moving average is $8.11 and its 200-day moving average is $7.80. DiamondRock Hospitality Company has a 12 month low of $6.18 and a 12 month high of $10.00.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The company had revenue of $305.70 million for 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 was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. Equities research analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 123.08%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of DiamondRock Hospitality in a research report on Friday. Wells Fargo & Company raised DiamondRock Hospitality to a “hold” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley lowered their target price on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of “Hold” and an average target price of $8.88.

DiamondRock Hospitality Company Profile

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.