Walleye Capital LLC Invests $97,000 in DiamondRock Hospitality Company $DRH

Walleye Capital LLC purchased a new position in DiamondRock Hospitality Company (NYSE:DRH) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,590 shares of the real estate investment trust’s stock, valued at approximately $97,000.

A number of other large investors have also recently made changes to their positions in DRH. The Manufacturers Life Insurance Company boosted its holdings in shares of DiamondRock Hospitality by 16.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 134,256 shares of the real estate investment trust’s stock worth $1,212,000 after acquiring an additional 18,751 shares during the period. Northern Trust Corp boosted its holdings in shares of DiamondRock Hospitality by 15.6% in the fourth quarter. Northern Trust Corp now owns 3,250,978 shares of the real estate investment trust’s stock worth $29,356,000 after acquiring an additional 438,310 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of DiamondRock Hospitality by 32.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 63,610 shares of the real estate investment trust’s stock worth $574,000 after acquiring an additional 15,748 shares during the period. AXA S.A. boosted its holdings in shares of DiamondRock Hospitality by 200.8% in the fourth quarter. AXA S.A. now owns 45,706 shares of the real estate investment trust’s stock worth $413,000 after acquiring an additional 30,512 shares during the period. Finally, Algert Global LLC bought a new position in shares of DiamondRock Hospitality in the fourth quarter worth $172,000.

DiamondRock Hospitality Trading Down 0.3%

Shares of DRH stock opened at $8.58 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.30. DiamondRock Hospitality Company has a 52-week low of $6.18 and a 52-week high of $10.00. The company has a market capitalization of $1.76 billion, a PE ratio of 32.98 and a beta of 1.39. The business’s fifty day moving average is $8.05 and its 200 day moving average is $7.77.

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

DiamondRock Hospitality Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 3.7%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 123.08%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DRH. Truist Financial cut their price target on DiamondRock Hospitality from $10.00 to $9.00 and set a “hold” rating for the company in a report on Friday, May 30th. Wells Fargo & Company raised their price target on DiamondRock Hospitality from $8.25 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 27th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, DiamondRock Hospitality presently has an average rating of “Hold” and an average target price of $8.63.

About DiamondRock Hospitality

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.