Louisiana State Employees Retirement System boosted its position in shares of Diamondrock Hospitality Company (NYSE:DRH) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,600 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Diamondrock Hospitality were worth $894,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in Diamondrock Hospitality during the first quarter worth $116,000. Meadow Creek Investment Management LLC boosted its position in Diamondrock Hospitality by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 644 shares during the last quarter. Ronald Blue & Co. LLC boosted its position in Diamondrock Hospitality by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 483 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Diamondrock Hospitality during the first quarter worth $134,000. Finally, OLD National Bancorp IN bought a new position in Diamondrock Hospitality during the first quarter worth $142,000.
Shares of Diamondrock Hospitality Company (DRH) traded down 2.19% on Friday, hitting $10.74. The stock had a trading volume of 3,309,180 shares. The stock has a 50 day moving average price of $11.41 and a 200-day moving average price of $11.21. Diamondrock Hospitality Company has a 12-month low of $8.73 and a 12-month high of $12.07. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 21.74 and a beta of 1.38.
Diamondrock Hospitality (NYSE:DRH) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The business had revenue of $243.30 million during the quarter, compared to the consensus estimate of $240.73 million. During the same period in the previous year, the business earned $0.31 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts expect that Diamondrock Hospitality Company will post $0.46 earnings per share for the current year.
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A number of research firms have recently weighed in on DRH. Zacks Investment Research cut Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality in a research report on Friday, May 5th. Raymond James Financial, Inc. raised Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research report on Friday, July 14th. Finally, BidaskClub raised Diamondrock Hospitality from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.56.
In other news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $11.20, for a total value of $67,200.00. Following the completion of the sale, the director now directly owns 81,030 shares of the company’s stock, valued at approximately $907,536. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.
About Diamondrock Hospitality
DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.
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