Virginia Retirement Systems ET AL acquired a new position in DiamondRock Hospitality Co. (NYSE:DRH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 288,500 shares of the real estate investment trust’s stock, valued at approximately $2,605,000. Virginia Retirement Systems ET AL owned about 0.14% of DiamondRock Hospitality as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hancock Holding Co. bought a new position in DiamondRock Hospitality during the first quarter worth $103,000. Boothbay Fund Management LLC boosted its position in DiamondRock Hospitality by 6.1% in the first quarter. Boothbay Fund Management LLC now owns 10,983 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 636 shares in the last quarter. Genesee Valley Trust Co. boosted its position in DiamondRock Hospitality by 7.3% in the second quarter. Genesee Valley Trust Co. now owns 11,102 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 755 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in DiamondRock Hospitality by 3.3% in the first quarter. BlackRock Japan Co. Ltd now owns 11,768 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 372 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new position in DiamondRock Hospitality during the second quarter worth $107,000.

Shares of DiamondRock Hospitality Co. (NYSE:DRH) opened at 9.44 on Friday. The company has a 50 day moving average of $9.99 and a 200-day moving average of $9.53. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 17.16 and a beta of 1.47. DiamondRock Hospitality Co. has a one year low of $7.28 and a one year high of $12.84.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Friday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by $0.01. The company had revenue of $256.66 million for the quarter, compared to analysts’ expectations of $259.26 million. DiamondRock Hospitality had a return on equity of 6.24% and a net margin of 11.80%. DiamondRock Hospitality’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, analysts anticipate that DiamondRock Hospitality Co. will post $1.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Friday, September 30th will be given a dividend of $0.125 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.50 annualized dividend and a dividend yield of 5.30%. DiamondRock Hospitality’s payout ratio is currently 89.29%.

A number of research firms have weighed in on DRH. Deutsche Bank AG restated a “hold” rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a research report on Sunday, June 26th. Barclays PLC restated a “buy” rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a research report on Thursday, August 11th. Zacks Investment Research upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. TheStreet upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a research report on Tuesday, August 16th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.27.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.

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