New York State Common Retirement Fund lowered its position in shares of DiamondRock Hospitality (NYSE:DRH) by 64.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,075 shares of the real estate investment trust’s stock after selling 451,200 shares during the period. New York State Common Retirement Fund owned 0.12% of DiamondRock Hospitality worth $2,716,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. HRT Financial LLC purchased a new stake in shares of DiamondRock Hospitality in the 2nd quarter valued at $142,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of DiamondRock Hospitality by 15.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,787 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 2,081 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of DiamondRock Hospitality by 6.0% in the 2nd quarter. GSA Capital Partners LLP now owns 16,442 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 930 shares in the last quarter. GAM Holding AG boosted its stake in shares of DiamondRock Hospitality by 5.3% in the 2nd quarter. GAM Holding AG now owns 17,012 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 862 shares in the last quarter. Finally, Shelton Capital Management boosted its stake in shares of DiamondRock Hospitality by 5.4% in the 2nd quarter. Shelton Capital Management now owns 19,890 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 1,024 shares in the last quarter.
A number of equities research analysts have recently issued reports on DRH shares. KeyCorp reaffirmed a “hold” rating on shares of DiamondRock Hospitality in a research note on Tuesday, October 24th. Zacks Investment Research lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Boenning Scattergood set a $10.00 price target on shares of DiamondRock Hospitality and gave the company a “sell” rating in a report on Thursday, October 26th. Robert W. Baird reiterated a “buy” rating and set a $12.00 price target on shares of DiamondRock Hospitality in a report on Friday, November 10th. Finally, Evercore ISI upgraded shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $12.00.
Shares of DiamondRock Hospitality (NYSE DRH) opened at $11.61 on Friday. The firm has a market cap of $2,330.00, a PE ratio of 25.80, a PEG ratio of 2.35 and a beta of 1.33. 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 1 year low of $10.43 and a 1 year high of $12.07.
DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Monday, November 6th. The real estate investment trust reported $0.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.25. DiamondRock Hospitality had a net margin of 10.47% and a return on equity of 4.97%. The firm had revenue of $223.50 million for the quarter, compared to the consensus estimate of $223.30 million. During the same period in the prior year, the firm earned $0.26 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. research analysts anticipate that DiamondRock Hospitality will post 0.97 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.31%. The ex-dividend date was Thursday, December 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 111.11%.
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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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