VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in DiamondRock Hospitality Company $DRH

Key Points

• Virginia Retirement Systems acquired 281,506 shares of DiamondRock Hospitality in the second quarter, worth approximately $3.43 million and representing a 0.14% stake.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $12.53; recent targets range from $11 to $14.
• 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 from $0.09 to $0.11 per share, implying a 3.6% annual yield.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of DiamondRock Hospitality Company (NYSE:DRH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 281,506 shares of the real estate investment trust's stock, valued at approximately $3,429,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.14% of DiamondRock Hospitality at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP raised its stake in DiamondRock Hospitality by 146.0% in the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 1,697 shares during the period. EverSource Wealth Advisors LLC boosted its position in DiamondRock Hospitality by 77.3% during the fourth 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 period. Danske Bank A S bought a new position in DiamondRock Hospitality during the third quarter worth $33,000. Global Retirement Partners LLC increased its holdings in shares of DiamondRock Hospitality by 12,114.7% in the fourth quarter. Global Retirement Partners LLC now owns 4,153 shares of the real estate investment trust's stock valued at $37,000 after purchasing an additional 4,119 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of DiamondRock Hospitality in the second quarter valued at about $58,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on DRH. Barclays lifted their target price on shares of DiamondRock Hospitality from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, August 27th. Truist Financial raised their price objective on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. LADENBURG THALM/SH SH upped their target price on DiamondRock Hospitality from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Morgan Stanley lifted their price target on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 18th. Finally, Zacks Research raised DiamondRock Hospitality from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.53.

Insider Activity at DiamondRock Hospitality

In other news, Director Kathleen Merrill sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $11.88, for a total value of $237,600.00. Following the sale, the director directly owned 84,335 shares in the company, valued at approximately $1,001,899.80. This trade represents a 19.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company's stock.

DiamondRock Hospitality Trading Up 0.8%

Shares of DRH opened at $12.07 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.64. DiamondRock Hospitality Company has a 52-week low of $7.47 and a 52-week high of $13.79. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 48.28, a PEG ratio of 4.50 and a beta of 0.97. The business's fifty day moving average is $12.47 and its 200-day moving average is $11.21.

DiamondRock Hospitality (NYSE:DRH - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.22. The business had revenue of $318.29 million during the quarter, compared to the consensus estimate of $314.98 million. DiamondRock Hospitality had a return on equity of 4.04% and a net margin of 5.69%.DiamondRock Hospitality's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 EPS. DiamondRock Hospitality has set its FY 2026 guidance at 1.180-1.230 EPS. Equities analysts anticipate that DiamondRock Hospitality Company will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase 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 (DPR) is currently 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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