Pzena Investment Management LLC has recently announced that it has increased stake in Diamondrock Hospitality Co. (NYSE:DRH) by 9.10%. After grabbing 9.72 million shares, the institutional investor is now in possession of 0.81 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 4.64% having worth around $80.87 million. Moreover, FIAM LLC increased its share by 154.0 to have a control over 9.48 million shares. And Macquarie Investment Management B raised its holdings to 0.29 million shares by acquiring 7.27 million shares or 3.47% of the stake.
Diamondrock Hospitality Co. (DRH) concluded trading on December 20, 2023 at a closing price of $9.32, with 2.72 million shares of worth about $25.39 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 19.64% during that period and On Wednesday the price saw a gain of about 0.32%. Currently the company’s common shares owned by public are about 209.37M shares, out of which, 206.31M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 20 times over the past 12 months. They bought 545,556 shares in 14 of the transactions. In 6 selling transactions, insiders dumped 261,812 shares.
iShares Core S&P Small Cap ETF, Vanguard Real Estate Index Fund, and Fidelity Japan Fidelity US REIT M are the top 3 mutual funds which are holding stakes in Diamondrock Hospitality Co. iShares Core S&P Small Cap ETF is currently holding 14.02 million shares of worth totaling $116.63 million. The company recently came buying 7152.0 shares which brought its stake up to 6.69% of the company’s outstanding shares. Vanguard Real Estate Index Fund sold 79575.0 shares, after which its hold over company’s outstanding shares shrunk to 4.13%, leaving 8.65 million shares with the mutual fund that have a worth of about $71.95 million. Fidelity Japan Fidelity US REIT M, after buying 8.16 million shares, have now control over 3.89% of the stake in the company. It holds 1.37 million shares of worth $67.91 million.
However, the stock later moved at a day high price of 9.48, or with a gain of 0.32%. Stock saw a price change of 4.02% in past 5 days and over the past one month there was a price change of 11.08%. Year-to-date (YTD), DRH shares are showing a performance of 13.80% which increased to 9.93% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.14 but also hit the highest price of $10.02 during that period. The average intraday trading volume for Diamondrock Hospitality Co. shares is 2.16 million. The stock is currently trading 7.95% above its 20-day simple moving average (SMA20), while that difference is up 12.47% for SMA50 and it goes to 15.01% higher than SMA200.
Pzena Investment Management LLC acquired 9.72 million shares of Diamondrock Hospitality Co. having value of about $80.87 million. Data submitted at the U.S SEC by Pzena Investment Management LLC revealed that the firm now holds 0.81 million shares in the company valued at close to $7558259.04, or have control over 9.10% stake in the company. Diamondrock Hospitality Co. (NYSE: DRH) currently have 209.37M outstanding shares and institutions hold larger chunk of about 105.45% of that. Holding of mutual funds in the company is about 5.49% while other institutional holders and individual stake holders have control over 69.79% and 36.38% of the stake respectively.
The stock has a current market capitalization of $1.95B and its 3Y-monthly beta is at 1.61. PE ratio of stock for trailing 12 months is 23.57, while it has posted earnings per share of $0.40 in the same period. It has a debt-to-equity ratio of 0.79. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DRH, volatility over the week remained 2.93% while standing at 2.60% over the month.
Analysts are in expectations that Diamondrock Hospitality Co. (DRH) stock would likely to be making an EPS of $0.05 in the current quarter, while forecast for next quarter EPS is $0.04 and it is $0.43 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.03 which is $0.08 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -14.89% while it is estimated to increase by 11.09% in next year. EPS is likely to shrink at an annualized rate of -9.50% for next 5-years, compared to annual growth of 0.47% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on December 08, 2023 offering an Equal weight rating for the stock and assigned a target price range of between $9.50 and $9 to it.
