Legal & General Group Plc bought a new position in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,268,874 shares of the real estate investment trust's stock, valued at approximately $15,455,000. Legal & General Group Plc owned about 0.62% of DiamondRock Hospitality at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of DRH. Allworth Financial LP grew its position in shares of 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 purchasing an additional 1,697 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 1,498 shares during the last quarter. Danske Bank A S purchased a new stake in DiamondRock Hospitality in the 3rd quarter valued at approximately $33,000. Global Retirement Partners LLC grew its holdings in DiamondRock Hospitality by 12,114.7% during 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 buying an additional 4,119 shares during the last quarter. Finally, State of Wyoming acquired a new stake in DiamondRock Hospitality during the 2nd quarter valued at $58,000.
Insider Transactions at DiamondRock Hospitality
In other DiamondRock Hospitality news, Director Kathleen Merrill sold 20,000 shares of DiamondRock Hospitality stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $11.88, for a total value of $237,600.00. Following the completion of the sale, the director owned 84,335 shares in the company, valued at $1,001,899.80. The trade was a 19.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company's stock.
Analysts Set New Price Targets
DRH has been the subject of a number of analyst reports. Stifel Nicolaus boosted their price target on DiamondRock Hospitality from $12.50 to $13.25 and gave the stock a "hold" rating in a report on Friday, July 31st. Zacks Research raised DiamondRock Hospitality from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 19th. Citigroup lifted their price objective on DiamondRock Hospitality from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Truist Financial upped their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Finally, Morgan Stanley raised their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $12.53.
Get Our Latest Stock Report on DiamondRock Hospitality
DiamondRock Hospitality Stock Performance
Shares of DRH opened at $12.70 on Monday. The stock has a fifty day moving average of $12.49 and a two-hundred day moving average of $11.09. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. The company has a market capitalization of $2.60 billion, a PE ratio of 50.80, a price-to-earnings-growth ratio of 4.50 and a beta of 0.98. DiamondRock Hospitality Company has a fifty-two week low of $7.47 and a fifty-two week high of $13.79.
DiamondRock Hospitality (NYSE:DRH - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.22. The business had revenue of $318.29 million for the quarter, compared to analysts' expectations of $314.98 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.The business's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. As a group, analysts forecast that DiamondRock Hospitality Company will post 0.96 EPS for the current year.
DiamondRock Hospitality Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.09. DiamondRock Hospitality's dividend payout ratio is 60.27%.
DiamondRock Hospitality Profile
(
Free Report)
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.
Further Reading
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