Pzena Investment Management LLC Invests $34.46 Million in DiamondRock Hospitality Company $DRH

Pzena Investment Management LLC purchased a new stake in DiamondRock Hospitality Company (NYSE:DRH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,829,560 shares of the real estate investment trust’s stock, valued at approximately $34,464,000. Pzena Investment Management LLC owned approximately 1.38% of DiamondRock Hospitality as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Corp grew its position in DiamondRock Hospitality by 54.9% during the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 1,139 shares in the last quarter. ProShare Advisors LLC increased its stake in DiamondRock Hospitality by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 1,203 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in DiamondRock Hospitality by 32.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 1,470 shares during the period. EverSource Wealth Advisors LLC lifted its position in DiamondRock Hospitality by 77.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,498 shares in the last quarter. Finally, Gallacher Capital Management LLC boosted its stake in shares of DiamondRock Hospitality by 5.8% during the 1st quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 1,504 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DRH. LADENBURG THALM/SH SH increased their price objective on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Morgan Stanley increased their price target on shares of DiamondRock Hospitality from $9.60 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, July 17th. Wells Fargo & Company raised their price objective on DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Stifel Nicolaus boosted their price objective on shares of DiamondRock Hospitality from $12.50 to $13.25 and gave the stock a “hold” rating in a research note on Friday, July 31st. Finally, Citigroup upped their price objective on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.22.

Insider Buying and Selling at DiamondRock Hospitality

In other news, Director Kathleen Merrill sold 20,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director directly owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. This represents a 19.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Stock Performance

DiamondRock Hospitality stock opened at $12.36 on Tuesday. DiamondRock Hospitality Company has a 52 week low of $7.47 and a 52 week high of $13.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The firm has a market capitalization of $2.53 billion, a PE ratio of 49.44, a PEG ratio of 4.50 and a beta of 0.98. The business’s 50-day simple moving average is $12.36 and its 200-day simple moving average is $10.87.

DiamondRock Hospitality (NYSE:DRH) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.22. The firm had revenue of $318.29 million during the quarter, compared to the consensus estimate of $314.98 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The firm’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 company earned $0.35 EPS. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. Equities research analysts forecast that DiamondRock Hospitality Company will post 0.96 earnings per share for the current 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 issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. The ex-dividend date is Wednesday, September 30th. DiamondRock Hospitality’s dividend 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.