Tower Research Capital LLC TRC raised its position in shares of DiamondRock Hospitality Co. (NYSE:DRH) by 194.1% during the second quarter, Holdings Channel reports. The firm owned 15,840 shares of the real estate investment trust’s stock after buying an additional 10,454 shares during the period. Tower Research Capital LLC TRC’s holdings in DiamondRock Hospitality were worth $143,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hancock Holding Co. acquired a new position in DiamondRock Hospitality during the first quarter worth $103,000. Boothbay Fund Management LLC raised 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 worth $111,000 after buying an additional 636 shares during the period. Genesee Valley Trust Co. raised 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 worth $100,000 after buying an additional 755 shares during the period. BlackRock Japan Co. Ltd raised 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 worth $119,000 after buying an additional 372 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in DiamondRock Hospitality during the second quarter worth $107,000.
Shares of DiamondRock Hospitality Co. (NYSE:DRH) opened at 9.01 on Friday. The company has a 50 day moving average price of $9.64 and a 200 day moving average price of $9.49. The company has a market capitalization of $1.81 billion, a P/E ratio of 16.38 and a beta of 1.53. DiamondRock Hospitality Co. has a 12-month low of $7.28 and a 12-month high of $12.84.
DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. DiamondRock Hospitality had a net margin of 11.80% and a return on equity of 6.24%. The firm earned $256.66 million during the quarter, compared to analyst estimates of $259.26 million. During the same period in the prior year, the company posted $0.31 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts anticipate that DiamondRock Hospitality Co. will post $1.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend is Wednesday, September 28th. DiamondRock Hospitality’s dividend payout ratio is currently 89.29%.
A number of research analysts recently weighed in on the stock. Deutsche Bank AG reissued a “hold” rating and issued a $11.00 target price on shares of DiamondRock Hospitality in a report on Sunday, June 26th. Barclays PLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a research note on Thursday, August 11th. Zacks Investment Research raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. TheStreet raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research note on Tuesday, July 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $12.00 price objective on shares of DiamondRock Hospitality in a research note on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.91.
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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