DiamondRock Hospitality (NYSE:DRH) posted its earnings results on Monday. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.12), Fidelity Earnings reports. DiamondRock Hospitality had a return on equity of 4.26% and a net margin of 9.26%. The firm had revenue of $220.81 million during the quarter, compared to the consensus estimate of $227.40 million. During the same quarter last year, the company posted $0.25 EPS. DiamondRock Hospitality’s revenue for the quarter was down 1.2% on a year-over-year basis. DiamondRock Hospitality updated its FY 2018 guidance to $0.99-1.01 EPS.
Shares of NYSE:DRH opened at $10.47 on Tuesday. The company has a market capitalization of $2.14 billion, a PE ratio of 10.47, a P/E/G ratio of 3.06 and a beta of 1.37. DiamondRock Hospitality has a twelve month low of $9.87 and a twelve month high of $12.99. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Thursday, September 27th. DiamondRock Hospitality’s dividend payout ratio (DPR) is 50.00%.
Several research analysts have commented on the stock. Wells Fargo & Co restated a “market perform” rating on shares of DiamondRock Hospitality in a research report on Thursday, November 1st. Zacks Investment Research cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. Finally, Citigroup upped their target price on shares of DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.91.
Several large investors have recently modified their holdings of DRH. Jane Street Group LLC acquired a new stake in shares of DiamondRock Hospitality in the 1st quarter worth approximately $269,000. Xact Kapitalforvaltning AB lifted its stake in shares of DiamondRock Hospitality by 61.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 31,350 shares of the real estate investment trust’s stock worth $327,000 after acquiring an additional 11,900 shares during the period. Principal Financial Group Inc. lifted its stake in shares of DiamondRock Hospitality by 3.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,571,436 shares of the real estate investment trust’s stock worth $16,406,000 after acquiring an additional 47,627 shares during the period. James Investment Research Inc. acquired a new stake in shares of DiamondRock Hospitality in the 2nd quarter worth approximately $2,245,000. Finally, Foundry Partners LLC lifted its stake in shares of DiamondRock Hospitality by 19.3% in the 2nd quarter. Foundry Partners LLC now owns 36,685 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 5,925 shares during the period.
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DiamondRock Hospitality Company Profile
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 30 premium quality hotels with over 9,900 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.
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