Range Financial Group LLC Purchases 45,585 Shares of DiamondRock Hospitality Company $DRH

Range Financial Group LLC purchased a new position in DiamondRock Hospitality Company (NYSE:DRH) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 45,585 shares of the real estate investment trust’s stock, valued at approximately $563,000.

A number of other large investors also recently modified their holdings of the business. Global Retirement Partners LLC bought a new stake in shares of DiamondRock Hospitality during the second quarter valued at about $50,000. Allworth Financial LP acquired a new stake in DiamondRock Hospitality in the second quarter worth about $59,000. Farther Finance Advisors LLC lifted its holdings in DiamondRock Hospitality by 155.2% in the third quarter. Farther Finance Advisors LLC now owns 5,549 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 3,375 shares during the period. Nykredit A S bought a new position in DiamondRock Hospitality in the 2nd quarter valued at about $81,000. Finally, C M Bidwell & Associates Ltd. bought a new position in DiamondRock Hospitality in the 2nd quarter valued at about $84,000.

Wall Street Analysts Forecast Growth

DRH has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of DiamondRock Hospitality from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Stifel Nicolaus boosted 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. Bank of America upped their price target on shares of DiamondRock Hospitality from $12.50 to $13.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Zacks Research lowered shares of DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Citigroup increased their price objective on shares of DiamondRock Hospitality from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.93.

DiamondRock Hospitality Stock Up 2.5%

Shares of DiamondRock Hospitality stock opened at $13.79 on Wednesday. DiamondRock Hospitality Company has a 12-month low of $7.58 and a 12-month high of $13.88. The firm has a market capitalization of $2.82 billion, a PE ratio of 55.16, a price-to-earnings-growth ratio of 4.50 and a beta of 1.01. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average is $12.52 and its 200-day moving average is $11.82.

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. The business had revenue of $318.29 million during the quarter, compared to analyst estimates 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 quarter last year, the company posted $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 earnings per share for the current year.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were 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 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, September 30th. DiamondRock Hospitality’s payout ratio is currently 60.27%.

DiamondRock Hospitality Profile

DiamondRock Hospitality Company (NYSE: DRH) is a self-advised real estate investment trust that owns a portfolio of hotels and resort properties in the United States. The company focuses on lodging real estate in leisure destinations and gateway markets, with properties serving business travelers, vacationers, and group customers.

DiamondRock’s portfolio includes hotels operated under nationally recognized brands as well as independent and boutique properties. Its business activities include acquiring, owning, leasing, and strategically managing hospitality real estate, while day-to-day hotel operations are generally carried out by third-party management companies and brand operators.

The company was formed in 2004 through a spin-off from Marriott International and is headquartered in Bethesda, Maryland.