VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 162,700 DiamondRock Hospitality Company $DRH

Key Points

• Virginia Retirement Systems ET Al acquired a new stake of 162,700 shares in DiamondRock Hospitality Company, valued at approximately $1,246,000, during the second quarter.
• DiamondRock Hospitality recently reported earnings of $0.35 per share, exceeding analyst expectations, with revenue of $305.70 million for the quarter.
• The company declared a quarterly dividend of $0.08 per share, indicating an annualized yield of 4.0%, though its payout ratio stands at 123.08%.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 162,700 shares of the real estate investment trust's stock, valued at approximately $1,246,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of DiamondRock Hospitality as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of DiamondRock Hospitality by 0.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 298,326 shares of the real estate investment trust's stock valued at $2,285,000 after acquiring an additional 1,578 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in DiamondRock Hospitality by 1.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 107,860 shares of the real estate investment trust's stock worth $833,000 after purchasing an additional 1,873 shares during the last quarter. Wolverine Asset Management LLC raised its position in DiamondRock Hospitality by 2.4% during the 1st quarter. Wolverine Asset Management LLC now owns 86,304 shares of the real estate investment trust's stock worth $666,000 after purchasing an additional 2,016 shares during the last quarter. Sei Investments Co. raised its position in DiamondRock Hospitality by 0.6% during the 1st quarter. Sei Investments Co. now owns 360,243 shares of the real estate investment trust's stock worth $2,781,000 after purchasing an additional 2,311 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in DiamondRock Hospitality by 4.9% during the 1st quarter. Teacher Retirement System of Texas now owns 53,632 shares of the real estate investment trust's stock worth $414,000 after purchasing an additional 2,525 shares during the last quarter.

DiamondRock Hospitality Price Performance

Shares of NYSE DRH opened at $7.91 on Thursday. DiamondRock Hospitality Company has a twelve month low of $6.18 and a twelve month high of $10.00. The stock's 50 day moving average price is $8.11 and its 200-day moving average price is $7.77. The company has a market capitalization of $1.62 billion, a PE ratio of 30.41 and a beta of 1.38. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.64.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its earnings results on Thursday, August 7th. The real estate investment trust reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. DiamondRock Hospitality had a return on equity of 4.23% and a net margin of 6.04%.The firm had revenue of $305.70 million for the quarter, compared to the consensus estimate of $303.70 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company's revenue was down 1.2% compared to the same quarter last year. DiamondRock Hospitality has set its FY 2025 guidance at 0.960-1.060 EPS. On average, equities analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Tuesday, September 30th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, September 30th. DiamondRock Hospitality's payout ratio is 123.08%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley lowered their target price on DiamondRock Hospitality from $9.00 to $8.50 and set an "equal weight" rating for the company in a research report on Wednesday. Wells Fargo & Company raised DiamondRock Hospitality to a "hold" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of DiamondRock Hospitality in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.88.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.