Mesirow Financial Investment Management Equity Management Decreases Position in Diamondrock Hospitality Company (DRH)

Mesirow Financial Investment Management Equity Management trimmed its position in Diamondrock Hospitality Company (NYSE:DRH) by 24.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,465,901 shares of the real estate investment trust’s stock after selling 476,175 shares during the period. Mesirow Financial Investment Management Equity Management owned 0.73% of Diamondrock Hospitality worth $16,050,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DRH. Teachers Advisors LLC grew its stake in Diamondrock Hospitality by 15.2% in the first quarter. Teachers Advisors LLC now owns 1,647,625 shares of the real estate investment trust’s stock worth $18,371,000 after purchasing an additional 217,051 shares in the last quarter. Geode Capital Management LLC grew its stake in Diamondrock Hospitality by 5.7% in the first quarter. Geode Capital Management LLC now owns 1,809,659 shares of the real estate investment trust’s stock worth $20,177,000 after purchasing an additional 97,504 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Diamondrock Hospitality by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,864,958 shares of the real estate investment trust’s stock worth $31,944,000 after purchasing an additional 151,427 shares in the last quarter. UBS Group AG grew its stake in Diamondrock Hospitality by 9,487.9% in the first quarter. UBS Group AG now owns 144,777 shares of the real estate investment trust’s stock worth $1,614,000 after purchasing an additional 143,267 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Diamondrock Hospitality by 4,611.0% in the first quarter. BlackRock Inc. now owns 31,087,897 shares of the real estate investment trust’s stock worth $346,632,000 after purchasing an additional 30,427,991 shares in the last quarter.

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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 Zacks’ consensus estimate of $0.31 by $0.01. The business had revenue of $243.30 million for the quarter, compared to analysts’ expectations of $240.73 million. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Friday, September 29th were paid a $0.125 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.50 dividend on an annualized basis and a yield of 4.60%. Diamondrock Hospitality’s payout ratio is currently 102.04%.

A number of equities analysts recently commented on DRH shares. Zacks Investment Research upgraded Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Monday, July 10th. UBS AG upgraded Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. Raymond James Financial, Inc. upgraded Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 price target for the company in a research note on Friday, July 14th. ING Group upgraded Diamondrock Hospitality to an “outperform” rating and set a $13.00 price target for the company in a research note on Monday, July 17th. They noted that the move was a valuation call. Finally, BidaskClub downgraded Diamondrock Hospitality from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

In related news, Director Maureen L. Mcavey sold 6,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $11.20, for a total value of $67,200.00. Following the sale, the director now owns 81,030 shares of the company’s stock, valued at $907,536. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

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.

Institutional Ownership by Quarter for Diamondrock Hospitality (NYSE:DRH)

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