Utah Retirement Systems reduced its stake in shares of Diamondrock Hospitality Company (NYSE:DRH) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,663 shares of the real estate investment trust’s stock after selling 700 shares during the period. Utah Retirement Systems’ holdings in Diamondrock Hospitality were worth $193,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in Diamondrock Hospitality during the 1st quarter worth $116,000. Meadow Creek Investment Management LLC grew its holdings in Diamondrock Hospitality by 6.3% during the 1st quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 644 shares in the last quarter. Ronald Blue & Co. LLC grew its holdings in Diamondrock Hospitality by 4.6% during the 1st quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock worth $124,000 after acquiring an additional 483 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Diamondrock Hospitality during the 1st quarter worth $134,000. Finally, World Asset Management Inc grew its holdings in Diamondrock Hospitality by 0.9% during the 1st quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 108 shares in the last quarter.
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In other Diamondrock Hospitality news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $11.20, for a total value of $67,200.00. Following the sale, the director now owns 81,030 shares of the company’s stock, valued at approximately $907,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.
Diamondrock Hospitality Company (DRH) opened at 10.90 on Friday. Diamondrock Hospitality Company has a 12-month low of $8.73 and a 12-month high of $12.08. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 22.06 and a beta of 1.39. The stock has a 50 day moving average of $11.01 and a 200 day moving average of $11.14.
Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The firm had revenue of $243.30 million for the quarter, compared to analyst estimates of $240.73 million. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. Equities research analysts anticipate that Diamondrock Hospitality Company will post $0.46 earnings per share for the current year.
DRH has been the subject of several recent analyst reports. ING Group raised shares of Diamondrock Hospitality to an “outperform” rating and set a $13.00 price objective for the company in a report on Monday, July 17th. They noted that the move was a valuation call. BidaskClub lowered shares of Diamondrock Hospitality from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. UBS AG raised shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a report on Friday, July 14th. Stifel Nicolaus reissued a “buy” rating on shares of Diamondrock Hospitality in a report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday, June 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.60.
About Diamondrock Hospitality
DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.
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