Sterling Capital Management LLC acquired a new stake in shares of DiamondRock Hospitality (NYSE:DRH) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 111,866 shares of the real estate investment trust’s stock, valued at approximately $1,225,000. Sterling Capital Management LLC owned approximately 0.06% of DiamondRock Hospitality at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of DRH. HRT Financial LLC purchased a new stake in shares of DiamondRock Hospitality during the second quarter worth $142,000. World Asset Management Inc lifted its position in shares of DiamondRock Hospitality by 2.2% during the second quarter. World Asset Management Inc now owns 13,047 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 282 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of DiamondRock Hospitality by 15.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,787 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 2,081 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of DiamondRock Hospitality by 6.0% during the second quarter. GSA Capital Partners LLP now owns 16,442 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 930 shares in the last quarter. Finally, GAM Holding AG raised its holdings in DiamondRock Hospitality by 5.3% in the second quarter. GAM Holding AG now owns 17,012 shares of the real estate investment trust’s stock valued at $186,000 after acquiring an additional 862 shares in the last quarter.
Several research analysts recently weighed in on DRH shares. TheStreet raised shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Boenning Scattergood upgraded DiamondRock Hospitality from an “under perform” rating to a “neutral” rating in a report on Friday, December 8th. KeyCorp reaffirmed a “hold” rating on shares of DiamondRock Hospitality in a research report on Sunday, September 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a research report on Thursday, September 21st. Finally, Zacks Investment Research upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. DiamondRock Hospitality has an average rating of “Buy” and a consensus target price of $12.00.
DiamondRock Hospitality (NYSE DRH) traded up $0.17 on Thursday, reaching $11.62. The company’s stock had a trading volume of 2,222,630 shares, compared to its average volume of 1,585,391. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.41 and a quick ratio of 2.41. DiamondRock Hospitality has a 12-month low of $10.43 and a 12-month high of $12.07. The firm has a market cap of $2,245.42, a price-to-earnings ratio of 25.82, a P/E/G ratio of 2.27 and a beta of 1.33.
DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. DiamondRock Hospitality had a return on equity of 4.97% and a net margin of 10.47%. The company had revenue of $223.50 million for the quarter, compared to analyst estimates of $223.30 million. During the same period in the previous year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. equities research analysts expect that DiamondRock Hospitality will post 0.97 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Thursday, December 28th. DiamondRock Hospitality’s dividend payout ratio is currently 111.11%.
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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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