UBS Asset Management Americas Inc. boosted its stake in shares of DiamondRock Hospitality Co. (NYSE:DRH) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 372,564 shares of the real estate investment trust’s stock after buying an additional 17,675 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.19% of DiamondRock Hospitality worth $3,365,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Genesee Valley Trust Co. increased 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. purchased a new position in DiamondRock Hospitality during the first quarter valued at approximately $103,000. Fuller & Thaler Asset Management Inc. purchased a new position in DiamondRock Hospitality during the second quarter valued at approximately $107,000. Boothbay Fund Management LLC increased 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. Finally, BlackRock Japan Co. Ltd increased 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.
Shares of DiamondRock Hospitality Co. (NYSE:DRH) traded down 1.21% during trading on Monday, reaching $8.99. The company had a trading volume of 593,624 shares. The firm has a 50-day moving average of $9.81 and a 200 day moving average of $9.51. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 16.35 and a beta of 1.53. DiamondRock Hospitality Co. has a 52 week low of $7.28 and a 52 week high of $12.84.
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 the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $256.66 million for 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%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, equities research analysts forecast that DiamondRock Hospitality Co. will post $1.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Friday, September 30th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a yield of 5.56%. DiamondRock Hospitality’s payout ratio is 89.29%.
A number of analysts have issued reports on DRH shares. Zacks Investment Research downgraded DiamondRock Hospitality from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a research note on Tuesday, August 16th. TheStreet raised DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research note on Tuesday, July 19th. Morgan Stanley downgraded DiamondRock Hospitality from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $10.00 to $8.00 in a research note on Monday, September 26th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of DiamondRock Hospitality in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price 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.
Want to see what other hedge funds are holding DRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DiamondRock Hospitality Co. (NYSE:DRH).
Receive News & Ratings for DiamondRock Hospitality Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DiamondRock Hospitality Co. and related companies with MarketBeat.com's FREE daily email newsletter.