VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.43 Million in DiamondRock Hospitality Company $DRH

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in DiamondRock Hospitality Company (NYSE:DRH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 281,506 shares of the real estate investment trust’s stock, valued at approximately $3,429,000.

Several other hedge funds also recently modified their holdings of the company. Allworth Financial LP grew its position in DiamondRock Hospitality by 146.0% during the 4th quarter. Allworth Financial LP now owns 2,859 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 1,697 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in DiamondRock Hospitality by 77.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,436 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,498 shares during the last quarter. Global Retirement Partners LLC bought a new position in DiamondRock Hospitality in the second quarter valued at about $50,000. Danske Bank A S acquired a new stake in shares of DiamondRock Hospitality during the third quarter valued at about $33,000. Finally, Nykredit A S acquired a new stake in shares of DiamondRock Hospitality during the second quarter valued at about $81,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DRH. Citigroup upped their price objective on DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. LADENBURG THALM/SH SH lifted their target price on shares of DiamondRock Hospitality from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Wells Fargo & Company boosted their target price on shares of DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Zacks Research upgraded shares of DiamondRock Hospitality from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 19th. Finally, Truist Financial lifted their price target on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.53.

DiamondRock Hospitality Stock Up 0.8%

Shares of NYSE DRH opened at $12.07 on Thursday. The company has a market capitalization of $2.47 billion, a P/E ratio of 48.28, a price-to-earnings-growth ratio of 4.50 and a beta of 0.97. DiamondRock Hospitality Company has a 52-week low of $7.47 and a 52-week high of $13.79. 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’s 50 day moving average price is $12.47 and its 200-day moving average price is $11.21.

DiamondRock Hospitality (NYSE:DRH) last posted 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. DiamondRock Hospitality had a net margin of 5.69% and a return on equity of 4.04%. The company had revenue of $318.29 million during the quarter, compared to analysts’ expectations of $314.98 million. During the same period in the prior year, the company posted $0.35 earnings per share. DiamondRock Hospitality’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. Equities analysts forecast that DiamondRock Hospitality Company will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be given a $0.11 dividend. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.44 annualized dividend and a dividend yield of 3.6%. DiamondRock Hospitality’s dividend payout ratio is 60.27%.

Insider Buying and Selling at DiamondRock Hospitality

In other news, Director Kathleen Merrill sold 20,000 shares of the business’s 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 transaction, the director directly owned 84,335 shares of the company’s stock, valued at $1,001,899.80. The trade was a 19.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.90% of the company’s stock.

DiamondRock Hospitality Company Profile

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.