Legal & General Group Plc Takes Position in DiamondRock Hospitality Company $DRH

Legal & General Group Plc acquired a new position in shares of DiamondRock Hospitality Company (NYSE:DRH) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,268,874 shares of the real estate investment trust’s stock, valued at approximately $15,455,000.

Other large investors have also made changes to their positions in the company. Allworth Financial LP boosted its holdings in 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 acquiring an additional 1,697 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of DiamondRock Hospitality by 77.3% in 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 period. Danske Bank A S purchased a new position in shares of DiamondRock Hospitality in the 3rd quarter worth about $33,000. Global Retirement Partners LLC lifted its stake in shares of DiamondRock Hospitality by 12,114.7% in 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 purchasing an additional 4,119 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of DiamondRock Hospitality in the 2nd quarter valued at about $58,000.

DiamondRock Hospitality Stock Performance

NYSE DRH opened at $12.70 on Monday. The stock has a market cap of $2.60 billion, a P/E ratio of 50.80, a PEG ratio of 4.50 and a beta of 0.98. The company’s fifty day simple moving average is $12.49 and its 200-day simple moving average is $11.09. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. DiamondRock Hospitality Company has a 52 week low of $7.47 and a 52 week high of $13.79.

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

DiamondRock Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.11 per share. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 30th. DiamondRock Hospitality’s payout ratio is 60.27%.

Insider Buying and Selling at DiamondRock Hospitality

In other 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 transaction of $237,600.00. Following the sale, the director directly owned 84,335 shares of the company’s stock, valued at approximately $1,001,899.80. The trade was a 19.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DRH has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of DiamondRock Hospitality from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Morgan Stanley increased their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Truist Financial lifted 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. Stifel Nicolaus upped their price target on shares of DiamondRock Hospitality from $12.50 to $13.25 and gave the stock a “hold” rating in a research report on Friday, July 31st. Finally, Zacks Research upgraded DiamondRock Hospitality from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.53.

DiamondRock Hospitality 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.