The Manufacturers Life Insurance Company Acquires New Holdings in DiamondRock Hospitality Company $DRH

The Manufacturers Life Insurance Company bought a new stake in DiamondRock Hospitality Company (NYSE:DRH) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 108,779 shares of the real estate investment trust’s stock, valued at approximately $1,325,000.

A number of other large investors have also added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in shares of DiamondRock Hospitality by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 40,041 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 1,203 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of DiamondRock Hospitality by 77.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,498 shares in the last quarter. Gallacher Capital Management LLC grew its position in shares of DiamondRock Hospitality by 5.8% in the 1st quarter. Gallacher Capital Management LLC now owns 27,509 shares of the real estate investment trust’s stock worth $258,000 after buying an additional 1,504 shares during the last quarter. Metis Global Partners LLC grew its position in shares of DiamondRock Hospitality by 3.6% in the 4th quarter. Metis Global Partners LLC now owns 48,193 shares of the real estate investment trust’s stock worth $432,000 after buying an additional 1,667 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of 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 acquiring an additional 1,697 shares in the last quarter.

DiamondRock Hospitality Stock Performance

Shares of DiamondRock Hospitality stock opened at $12.08 on Friday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 48.32, a PEG ratio of 4.50 and a beta of 0.97. 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 50 day moving average price of $12.48 and a 200 day moving average price of $11.16. DiamondRock Hospitality Company has a 52 week low of $7.47 and a 52 week high of $13.79.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results 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 net margin of 5.69% and a return on equity of 4.04%. The company had revenue of $318.29 million for the quarter, compared to the consensus estimate of $314.98 million. During the same quarter in the previous year, the firm earned $0.35 EPS. DiamondRock Hospitality’s 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. Sell-side analysts expect that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued 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 boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, September 30th. DiamondRock Hospitality’s dividend payout ratio is presently 60.27%.

Wall Street Analysts Forecast Growth

DRH has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Bank of America lifted their price target on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Truist Financial increased their price objective on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. LADENBURG THALM/SH SH raised their price objective on DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Finally, Wells Fargo & Company boosted their target price on DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.53.

Insider Buying and Selling at DiamondRock Hospitality

In related news, Director Kathleen Merrill sold 20,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $11.88, for a total value of $237,600.00. Following the transaction, the director directly owned 84,335 shares of the company’s stock, valued at $1,001,899.80. This represents a 19.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

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.