DiamondRock Hospitality (NYSE:DRH) Position Lowered by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in DiamondRock Hospitality (NYSE:DRH) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,359 shares of the real estate investment trust’s stock after selling 34,164 shares during the period. California State Teachers Retirement System owned 0.16% of DiamondRock Hospitality worth $3,508,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its holdings in shares of DiamondRock Hospitality by 9.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,308,249 shares of the real estate investment trust’s stock valued at $25,276,000 after buying an additional 201,551 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 valued at $173,000 after buying an additional 2,081 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of DiamondRock Hospitality by 0.4% during the second quarter. Principal Financial Group Inc. now owns 1,564,900 shares of the real estate investment trust’s stock valued at $17,136,000 after buying an additional 6,210 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of DiamondRock Hospitality by 15.3% during the second quarter. JPMorgan Chase & Co. now owns 2,801,612 shares of the real estate investment trust’s stock valued at $30,677,000 after buying an additional 371,001 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of DiamondRock Hospitality by 51.5% during the second quarter. LSV Asset Management now owns 1,378,200 shares of the real estate investment trust’s stock valued at $15,091,000 after buying an additional 468,485 shares during the last quarter.

DiamondRock Hospitality (DRH) opened at $11.61 on Tuesday. DiamondRock Hospitality has a 52 week low of $10.43 and a 52 week high of $12.07. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.51. The company has a market cap of $2,325.54, a PE ratio of 25.80, a P/E/G ratio of 2.34 and a beta of 1.33.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. DiamondRock Hospitality had a net margin of 10.47% and a return on equity of 4.97%. The company had revenue of $223.50 million during the quarter, compared to analyst estimates of $223.30 million. During the same quarter last year, the business posted $0.26 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. analysts predict that DiamondRock Hospitality will post 0.97 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were issued a $0.125 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.50 annualized dividend and a dividend yield of 4.31%. DiamondRock Hospitality’s dividend payout ratio is currently 111.11%.

Several equities research analysts recently issued reports on the stock. Boenning Scattergood restated a “sell” rating and issued a $10.00 target price on shares of DiamondRock Hospitality in a report on Wednesday, November 8th. TheStreet upgraded shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research report on Friday, December 29th. Robert W. Baird reiterated a “buy” rating and issued a $12.00 price target on shares of DiamondRock Hospitality in a research report on Friday, November 10th. Evercore ISI upgraded shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. Finally, Zacks Investment Research downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.00.

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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.

Institutional Ownership by Quarter for DiamondRock Hospitality (NYSE:DRH)

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