DiamondRock Hospitality Company $DRH Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in DiamondRock Hospitality Company (NYSE:DRH) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 122,959 shares of the real estate investment trust’s stock after selling 7,817 shares during the period. MetLife Investment Management LLC’s holdings in DiamondRock Hospitality were worth $949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new stake in DiamondRock Hospitality in the 1st quarter valued at about $97,000. Systematic Financial Management LP grew its stake in DiamondRock Hospitality by 0.9% in the 1st quarter. Systematic Financial Management LP now owns 1,697,220 shares of the real estate investment trust’s stock valued at $13,103,000 after acquiring an additional 15,551 shares during the last quarter. Jump Financial LLC acquired a new stake in DiamondRock Hospitality in the 1st quarter valued at about $1,566,000. Hotchkis & Wiley Capital Management LLC grew its stake in DiamondRock Hospitality by 46.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,136,920 shares of the real estate investment trust’s stock valued at $8,777,000 after acquiring an additional 358,920 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its stake in DiamondRock Hospitality by 66.7% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,748,875 shares of the real estate investment trust’s stock valued at $21,221,000 after acquiring an additional 1,100,070 shares during the last quarter.

Analyst Upgrades and Downgrades

DRH has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on shares of DiamondRock Hospitality from $8.25 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 27th. Truist Financial decreased their price target on shares of DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Friday, May 30th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, DiamondRock Hospitality has an average rating of “Hold” and an average price target of $8.63.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $8.58 on Friday. DiamondRock Hospitality Company has a 12-month low of $6.18 and a 12-month high of $10.00. The stock has a market capitalization of $1.76 billion, a P/E ratio of 32.98 and a beta of 1.39. The firm’s 50-day moving average is $8.05 and its two-hundred day moving average is $7.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.30 and a quick ratio of 1.30.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $305.70 million for the quarter, compared to analyst estimates of $303.70 million. DiamondRock Hospitality had a net margin of 6.04% and a return on equity of 4.23%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. Equities analysts predict that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. DiamondRock Hospitality’s dividend payout ratio is presently 123.08%.

DiamondRock Hospitality 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.