Voya Investment Management LLC Sells 76,095 Shares of DiamondRock Hospitality Company $DRH

Voya Investment Management LLC decreased its holdings in shares of DiamondRock Hospitality Company (NYSE:DRH) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 613,573 shares of the real estate investment trust’s stock after selling 76,095 shares during the quarter. Voya Investment Management LLC’s holdings in DiamondRock Hospitality were worth $4,884,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. State Street Corp boosted its holdings in DiamondRock Hospitality by 0.8% in the 2nd quarter. State Street Corp now owns 12,587,578 shares of the real estate investment trust’s stock valued at $97,400,000 after purchasing an additional 93,929 shares during the period. Bank of America Corp DE lifted its stake in shares of DiamondRock Hospitality by 17.5% in the second quarter. Bank of America Corp DE now owns 9,231,991 shares of the real estate investment trust’s stock valued at $70,717,000 after buying an additional 1,377,897 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of DiamondRock Hospitality by 2.8% in the first quarter. Alyeska Investment Group L.P. now owns 8,812,253 shares of the real estate investment trust’s stock valued at $68,031,000 after buying an additional 236,176 shares during the period. Pzena Investment Management LLC grew its position in DiamondRock Hospitality by 2.1% during the second quarter. Pzena Investment Management LLC now owns 8,785,278 shares of the real estate investment trust’s stock worth $67,295,000 after buying an additional 181,610 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in DiamondRock Hospitality by 106.3% during the second quarter. JPMorgan Chase & Co. now owns 5,412,002 shares of the real estate investment trust’s stock valued at $41,456,000 after acquiring an additional 2,788,022 shares during the period.

Analysts Set New Price Targets

DRH has been the subject of a number of research reports. Morgan Stanley reduced their price objective on DiamondRock Hospitality from $9.00 to $8.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 22nd. Evercore ISI upped their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “in-line” rating in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of DiamondRock Hospitality in a research note on Wednesday, October 8th. Truist Financial boosted their price target on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, December 4th. Finally, Wells Fargo & Company increased their price objective on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, December 1st. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, DiamondRock Hospitality presently has a consensus rating of “Hold” and a consensus target price of $9.38.

DiamondRock Hospitality Price Performance

DiamondRock Hospitality stock opened at $9.24 on Friday. The business has a 50 day simple moving average of $8.69 and a 200 day simple moving average of $8.23. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $1.88 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 4.50 and a beta of 1.04. DiamondRock Hospitality Company has a one year low of $6.18 and a one year high of $9.42.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. The firm had revenue of $285.38 million during the quarter, compared to analyst estimates of $277.45 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 earnings per share. DiamondRock Hospitality has set its FY 2025 guidance at 1.020-1.06 EPS. On average, sell-side analysts forecast that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, December 31st. DiamondRock Hospitality’s dividend payout ratio is currently 128.00%.

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.