FMR LLC & Abigail Johnson Hold 7.105% Stake in DiamondRock Hospitality
Ticker: DRH · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 1298946
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, real-estate, hotel-REIT
TL;DR
**FMR LLC and Abigail Johnson still own 7.105% of DiamondRock Hospitality, showing continued institutional interest.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in DiamondRock Hospitality Co. As of February 9, 2024, they collectively beneficially own 14,894,967 shares of common stock, representing 7.105% of the company. This is an amendment to a previous filing, indicating a change in their holdings, which matters to investors as it shows a significant institutional investor's continued, albeit slightly adjusted, confidence in the hotel REIT.
Why It Matters
This filing shows that a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, maintain a significant stake in DiamondRock Hospitality Co., signaling their ongoing interest in the company's performance. Investors should note that while the percentage is substantial, it's an amendment, meaning their position has likely shifted from a prior filing.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate or significant risk to the company or its shareholders.
Analyst Insight
This filing confirms a major institutional investor's continued, substantial stake in DiamondRock Hospitality Co. Investors should view this as a sign of ongoing institutional interest, but also recognize it's an amendment, so the position may have slightly changed. It's a data point to consider alongside other fundamental analysis, not a direct buy/sell signal.
Key Numbers
- 14,894,967 — Shares Beneficially Owned (Represents the total common stock shares of DiamondRock Hospitality Co. held by FMR LLC and Abigail P. Johnson.)
- 7.105% — Percent of Class (Indicates the proportion of DiamondRock Hospitality Co.'s common stock owned by FMR LLC and Abigail P. Johnson.)
- 20240209 — Filing Date (The date this SC 13G/A amendment was filed, providing the most recent ownership data.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person and principal owner of FMR LLC
- DiamondRock Hospitality Co (company) — the issuer of the securities
- 14,894,967 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 7.105% (dollar_amount) — percentage of class owned by FMR LLC and Abigail P. Johnson
Forward-Looking Statements
- FMR LLC will likely maintain a significant, but potentially fluctuating, stake in DiamondRock Hospitality Co. over the next year. (FMR LLC) — medium confidence, target: 2025-02-09
FAQ
Who are the primary reporting persons in this SC 13G/A filing?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for both entities.
What is the total number of common stock shares of DiamondRock Hospitality Co. beneficially owned by FMR LLC and Abigail P. Johnson?
FMR LLC and Abigail P. Johnson each beneficially own 14,894,967 shares of common stock, as reported in Item 7 and Item 4(a) of their respective sections.
What percentage of DiamondRock Hospitality Co.'s common stock do FMR LLC and Abigail P. Johnson collectively own?
They collectively own 7.105% of the common stock, as indicated in Item 11 and Item 4(b) for both FMR LLC and Abigail P. Johnson.
Under which SEC rule is this Schedule 13G/A filed?
This Schedule 13G/A is filed pursuant to Rule 13d-1(b), as marked with an 'x' in the appropriate box on the cover page and stated in Item 3.
What is the CUSIP number for DiamondRock Hospitality Co.'s common stock?
The CUSIP number for DiamondRock Hospitality Co.'s common stock is 252784301, as listed under 'Cusip #252784301' on the cover page and in Item 2(e).
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding DiamondRock Hospitality Co (DRH).