New York State Common Retirement Fund boosted its holdings in Diamondrock Hospitality Company (NYSE:DRH) by 44.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 699,275 shares of the real estate investment trust’s stock after acquiring an additional 216,434 shares during the quarter. New York State Common Retirement Fund owned 0.35% of Diamondrock Hospitality worth $7,657,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in DRH. Wells Fargo & Company MN increased its stake in Diamondrock Hospitality by 47.4% in the 1st quarter. Wells Fargo & Company MN now owns 250,880 shares of the real estate investment trust’s stock worth $2,798,000 after acquiring an additional 80,723 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Diamondrock Hospitality by 24.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 802,753 shares of the real estate investment trust’s stock worth $8,951,000 after acquiring an additional 155,653 shares during the last quarter. Karp Capital Management Corp bought a new position in Diamondrock Hospitality in the 1st quarter worth about $738,000. Oxford Asset Management bought a new position in Diamondrock Hospitality in the 1st quarter worth about $383,000. Finally, Mason Street Advisors LLC increased its stake in Diamondrock Hospitality by 6.9% in the 1st quarter. Mason Street Advisors LLC now owns 46,814 shares of the real estate investment trust’s stock worth $522,000 after acquiring an additional 3,041 shares during the last quarter.
Diamondrock Hospitality Company (NYSE:DRH) opened at 10.97 on Thursday. Diamondrock Hospitality Company has a 12 month low of $8.73 and a 12 month high of $12.07. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 22.21 and a beta of 1.39. The stock’s 50 day moving average price is $10.84 and its 200 day moving average price is $11.14.
Diamondrock Hospitality (NYSE:DRH) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $243.30 million for the quarter, compared to the consensus estimate of $240.73 million. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. Equities research analysts anticipate that Diamondrock Hospitality Company will post $0.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.56%. Diamondrock Hospitality’s dividend payout ratio is currently 102.04%.
In other Diamondrock Hospitality news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $11.20, for a total transaction of $67,200.00. Following the sale, the director now directly owns 81,030 shares of the company’s stock, valued at $907,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.
A number of brokerages have weighed in on DRH. Stifel Nicolaus restated a “buy” rating on shares of Diamondrock Hospitality in a research note on Thursday, August 10th. Zacks Investment Research upgraded Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Wednesday. UBS AG upgraded Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. BidaskClub upgraded Diamondrock Hospitality from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Canaccord Genuity restated a “buy” rating and issued a $13.00 target price on shares of Diamondrock Hospitality in a research note on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Diamondrock Hospitality currently has a consensus rating of “Hold” and an average price target of $12.00.
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Diamondrock Hospitality Company Profile
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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