DiamondRock Hospitality Company (NYSE:DRH) Announces Quarterly Dividend of $0.09

DiamondRock Hospitality Company (NYSE:DRH) announced a quarterly dividend on Thursday, April 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.09 per share by the real estate investment trust on Tuesday, July 14th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 30th.

DiamondRock Hospitality has a dividend payout ratio of 80.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect DiamondRock Hospitality to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 35.3%.

DiamondRock Hospitality Stock Up 3.5%

Shares of NYSE DRH traded up $0.36 during trading hours on Friday, hitting $10.56. 856,807 shares of the stock were exchanged, compared to its average volume of 2,396,165. DiamondRock Hospitality has a 12 month low of $7.21 and a 12 month high of $10.68. The firm has a fifty day moving average price of $9.82 and a 200-day moving average price of $9.25. 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 company has a market cap of $2.16 billion, a PE ratio of 42.30, a PEG ratio of 4.50 and a beta of 0.99.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Thursday, February 26th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $274.53 million for the quarter, compared to analyst estimates of $273.18 million. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. DiamondRock Hospitality has set its FY 2026 guidance at 1.090-1.160 EPS. On average, sell-side analysts expect that DiamondRock Hospitality will post 0.96 EPS for the current year.

Insider Activity

In other news, CAO Steve Spierto sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $9.93, for a total value of $39,720.00. Following the completion of the transaction, the chief accounting officer directly owned 77,977 shares in the company, valued at $774,311.61. This trade represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DiamondRock Hospitality

Several hedge funds and other institutional investors have recently bought and sold shares of DRH. Allworth Financial LP raised its position in DiamondRock Hospitality by 146.0% during the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,697 shares during the last quarter. First Horizon Corp boosted its holdings in shares of DiamondRock Hospitality by 54.9% in the 4th quarter. First Horizon Corp now owns 3,214 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 1,139 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of DiamondRock Hospitality by 77.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,498 shares during the period. Danske Bank A S purchased a new position in shares of DiamondRock Hospitality during the third quarter worth $33,000. Finally, Global Retirement Partners LLC lifted its position in DiamondRock Hospitality by 12,114.7% during the fourth quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 4,119 shares during the period.

About DiamondRock Hospitality

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.