Teacher Retirement System of Texas boosted its stake in shares of DiamondRock Hospitality Co. (NYSE:DRH) by 14.6% during the second quarter, Holdings Channel reports. The fund owned 28,199 shares of the real estate investment trust’s stock after buying an additional 3,591 shares during the period. Teacher Retirement System of Texas’ holdings in DiamondRock Hospitality were worth $255,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Emerald Acquisition Ltd. purchased a new stake in shares of DiamondRock Hospitality during the second quarter valued at approximately $13,710,000. Shinko Asset Management Co. Ltd. boosted its stake in shares of DiamondRock Hospitality by 15.8% in the second quarter. Shinko Asset Management Co. Ltd. now owns 9,469,467 shares of the real estate investment trust’s stock worth $85,509,000 after buying an additional 1,292,452 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of DiamondRock Hospitality by 35.8% in the second quarter. Bank of New York Mellon Corp now owns 4,240,752 shares of the real estate investment trust’s stock worth $38,294,000 after buying an additional 1,117,488 shares during the last quarter. Smith Graham & Co. Investment Advisors LP bought a new stake in shares of DiamondRock Hospitality during the second quarter worth about $5,487,000. Finally, Eii Capital Management Inc. boosted its stake in shares of DiamondRock Hospitality by 319.0% in the second quarter. Eii Capital Management Inc. now owns 605,400 shares of the real estate investment trust’s stock worth $5,467,000 after buying an additional 460,900 shares during the last quarter.
DiamondRock Hospitality Co. (NYSE:DRH) opened at 9.21 on Tuesday. The company has a market cap of $1.85 billion, a PE ratio of 16.75 and a beta of 1.53. DiamondRock Hospitality Co. has a 12-month low of $7.28 and a 12-month high of $12.76. The company has a 50-day moving average price of $9.40 and a 200 day moving average price of $9.46.
DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The firm earned $256.66 million during the quarter, compared to the consensus estimate of $259.26 million. DiamondRock Hospitality had a net margin of 11.80% and a return on equity of 6.24%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. On average, analysts forecast that DiamondRock Hospitality Co. will post $1.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 12th. Investors of record on Friday, September 30th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.50 annualized dividend and a yield of 5.43%. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 89.29%.
A number of equities research analysts have issued reports on DRH shares. Canaccord Genuity reaffirmed a “buy” rating and set a $12.00 target price on shares of DiamondRock Hospitality in a research report on Tuesday, August 16th. Barclays PLC reiterated a “buy” rating and set a $11.00 price target on shares of DiamondRock Hospitality in a report on Thursday, August 11th. TheStreet upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Zacks Investment Research upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $11.00 price target on shares of DiamondRock Hospitality in a report on Sunday, June 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $10.60.
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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