Cambiar Investors LLC reduced its stake in DiamondRock Hospitality Co. (NYSE:DRH) by 6.1% during the second quarter, Holdings Channel reports. The institutional investor owned 2,819,086 shares of the real estate investment trust’s stock after selling 182,742 shares during the period. Cambiar Investors LLC’s holdings in DiamondRock Hospitality were worth $25,456,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of DRH. Genesee Valley Trust Co. boosted its position in DiamondRock Hospitality by 7.3% in the second quarter. Genesee Valley Trust Co. now owns 11,102 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 755 shares in the last quarter. Hancock Holding Co. acquired a new position in DiamondRock Hospitality during the first quarter valued at $103,000. Boothbay Fund Management LLC boosted its position in DiamondRock Hospitality by 6.1% in the first quarter. Boothbay Fund Management LLC now owns 10,983 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 636 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in DiamondRock Hospitality by 3.3% in the first quarter. BlackRock Japan Co. Ltd now owns 11,768 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 372 shares in the last quarter. Finally, Breton Hill Capital Ltd. acquired a new position in DiamondRock Hospitality during the second quarter valued at $146,000.
Shares of DiamondRock Hospitality Co. (NYSE:DRH) traded down 0.66% during trading on Monday, reaching $9.04. The company’s stock had a trading volume of 1,580,562 shares. DiamondRock Hospitality Co. has a 12-month low of $7.28 and a 12-month high of $12.84. The company has a 50 day moving average of $9.77 and a 200 day moving average of $9.50. The company has a market cap of $1.82 billion, a PE ratio of 16.44 and a beta of 1.53.
DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Friday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. The firm earned $256.66 million during the quarter, compared to analysts’ expectations of $259.26 million. DiamondRock Hospitality had a return on equity of 6.24% and a net margin of 11.80%. DiamondRock Hospitality’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, analysts anticipate that DiamondRock Hospitality Co. will post $1.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be given a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.53%. DiamondRock Hospitality’s dividend payout ratio is currently 89.29%.
A number of brokerages have recently commented on DRH. Deutsche Bank AG reaffirmed a “hold” rating and set a $11.00 price target on shares of DiamondRock Hospitality in a research report on Sunday, June 26th. Barclays PLC reaffirmed a “buy” rating and set a $11.00 price target on shares of DiamondRock Hospitality in a research report on Thursday, August 11th. Morgan Stanley cut DiamondRock Hospitality from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $10.00 to $8.00 in a research report on Monday, September 26th. Zacks Investment Research raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, TheStreet raised DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $11.00.
DiamondRock Hospitality Company Profile
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.
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