Eii Capital Management Inc. boosted its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,775 shares of the real estate investment trust’s stock after buying an additional 1,305 shares during the period. Eii Capital Management Inc.’s holdings in DiamondRock Hospitality were worth $939,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pzena Investment Management LLC raised its holdings in DiamondRock Hospitality by 7.9% during the first quarter. Pzena Investment Management LLC now owns 1,277,729 shares of the real estate investment trust’s stock worth $13,838,000 after buying an additional 93,148 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in DiamondRock Hospitality during the fourth quarter worth $4,224,000. First Trust Advisors LP raised its holdings in DiamondRock Hospitality by 172.9% during the first quarter. First Trust Advisors LP now owns 482,130 shares of the real estate investment trust’s stock worth $5,221,000 after buying an additional 305,470 shares during the last quarter. Norges Bank acquired a new position in DiamondRock Hospitality during the fourth quarter worth $23,362,000. Finally, Public Employees Retirement System of Ohio raised its holdings in DiamondRock Hospitality by 9.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 264,184 shares of the real estate investment trust’s stock worth $2,399,000 after buying an additional 22,145 shares during the last quarter.
DRH has been the topic of several research reports. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Co upgraded shares of Centurylink from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $12.00 to $14.00 in a research note on Wednesday, June 26th. Four equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $10.19.
DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 4.90% and a net margin of 10.44%. The firm had revenue of $202.38 million during the quarter, compared to the consensus estimate of $194.62 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts predict that DiamondRock Hospitality will post 1.03 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.50 annualized dividend and a yield of 5.04%. DiamondRock Hospitality’s payout ratio is currently 49.02%.
In related news, Director Maureen L. Mcavey sold 8,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $10.36, for a total transaction of $82,880.00. Following the completion of the transaction, the director now owns 91,688 shares in the company, valued at $949,887.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.
DiamondRock Hospitality Company Profile
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.
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