Engineers Gate Manager LP Buys 97,070 Shares of DiamondRock Hospitality Company $DRH

Engineers Gate Manager LP grew its position in DiamondRock Hospitality Company (NYSE:DRH) by 123.5% during the 2nd quarter, Holdings Channel reports. The firm owned 175,670 shares of the real estate investment trust’s stock after purchasing an additional 97,070 shares during the quarter. Engineers Gate Manager LP’s holdings in DiamondRock Hospitality were worth $2,140,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DRH. BlackRock Inc. bought a new position in DiamondRock Hospitality during the 2nd quarter valued at about $475,282,000. Bank of America Corp DE bought a new stake in DiamondRock Hospitality during the second quarter worth about $129,710,000. Cohen & Steers Inc. acquired a new stake in shares of DiamondRock Hospitality during the fourth quarter worth approximately $59,231,000. Pzena Investment Management LLC acquired a new stake in shares of DiamondRock Hospitality during the second quarter worth approximately $34,464,000. Finally, SG Americas Securities LLC raised its stake in shares of DiamondRock Hospitality by 106.1% in the first quarter. SG Americas Securities LLC now owns 4,172,671 shares of the real estate investment trust’s stock valued at $39,098,000 after acquiring an additional 2,147,881 shares during the last quarter.

Analysts Set New Price Targets

DRH has been the topic of several recent analyst reports. Barclays boosted their target price on DiamondRock Hospitality from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. Bank of America raised their price target on DiamondRock Hospitality from $12.50 to $13.00 and gave the company a “buy” rating in a report on Monday, July 20th. Wells Fargo & Company lifted their price objective on DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. LADENBURG THALM/SH SH boosted their price objective on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Finally, Truist Financial increased their target price on DiamondRock Hospitality from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.82.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $12.39 on Wednesday. The business’s 50-day simple moving average is $12.50 and its 200 day simple moving average is $11.28. 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 market cap of $2.54 billion, a price-to-earnings ratio of 49.56, a P/E/G ratio of 4.50 and a beta of 0.97. DiamondRock Hospitality Company has a 12-month low of $7.47 and a 12-month high of $13.79.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping 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 analysts’ expectations of $314.98 million. During the same period in the previous year, the business posted $0.35 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. As a group, research analysts anticipate 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. Investors of record on Wednesday, September 30th will be paid 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 positive change from DiamondRock Hospitality’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, September 30th. DiamondRock Hospitality’s payout ratio is presently 60.27%.

About DiamondRock Hospitality

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resorts in the United States. The company focuses on lodging properties in locations that appeal to business and leisure travelers, including gateway cities, destination resorts and other high-demand markets.

DiamondRock’s properties operate under a combination of nationally recognized hotel brands and independent or company-developed concepts. Its portfolio includes full-service hotels, lifestyle properties and resort accommodations, with services such as guest rooms, restaurants, meeting and event facilities, recreational amenities and other hospitality offerings.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.