Globeflex Capital L P Invests $2.39 Million in DiamondRock Hospitality Company $DRH

Key Points

• Globeflex Capital acquired 196,402 shares of DiamondRock Hospitality, valued at approximately $2.39 million, representing about 0.10% of the REIT.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $12.32; several firms recently raised their targets.
• DiamondRock reported quarterly EPS of $0.44, exceeding estimates of $0.22, while revenue rose 4.1% year over year. The company also increased its quarterly dividend to $0.11 per share, implying a 3.4% annual yield.

Globeflex Capital L P bought a new stake in DiamondRock Hospitality Company (NYSE:DRH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 196,402 shares of the real estate investment trust's stock, valued at approximately $2,392,000. Globeflex Capital L P owned approximately 0.10% of DiamondRock Hospitality as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Allworth Financial LP increased its holdings in DiamondRock Hospitality by 146.0% in the fourth quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 1,697 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in DiamondRock Hospitality by 77.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust's stock worth $31,000 after buying an additional 1,498 shares during the last quarter. Danske Bank A S acquired a new position in shares of DiamondRock Hospitality in the 3rd quarter worth approximately $33,000. Global Retirement Partners LLC increased its holdings in shares of DiamondRock Hospitality by 12,114.7% in the 4th quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 4,119 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of DiamondRock Hospitality by 32.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,990 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 1,470 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have commented on DRH. Zacks Research raised shares of DiamondRock Hospitality from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 19th. Wells Fargo & Company increased their price objective on shares of DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 23rd. Bank of America raised their target price 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 lifted their target price on DiamondRock Hospitality from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Finally, Barclays upped their target price on DiamondRock Hospitality from $10.00 to $12.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.32.

Insider Activity at DiamondRock Hospitality

In related news, Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $11.88, for a total transaction of $237,600.00. Following the sale, the director directly owned 84,335 shares in the company, valued at $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company's stock.

DiamondRock Hospitality Stock Performance

DiamondRock Hospitality stock opened at $12.82 on Monday. 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 firm has a 50-day moving average price of $12.43 and a two-hundred day moving average price of $10.97. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 51.28, a PEG ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality Company has a 52-week low of $7.47 and a 52-week high of $13.79.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.22. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The business had revenue of $318.29 million during the quarter, compared to analyst estimates of $314.98 million. During the same period in the prior year, the company posted $0.35 EPS. The business's revenue for the quarter 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 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The firm also recently declared 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 3.4%. This is a positive change 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 60.27%.

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.

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