Great West Life Assurance Co. Can Continues to Hold Stake in DiamondRock Hospitality Co. (DRH)
Great West Life Assurance Co. Can maintained its position in shares of DiamondRock Hospitality Co. (NYSE:DRH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,528 shares of the real estate investment trust’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in DiamondRock Hospitality were worth $177,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Genesee Valley Trust Co. boosted its position in shares of 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 last quarter. Hancock Holding Co. acquired a new position in shares of DiamondRock Hospitality during the first quarter worth approximately $103,000. Boothbay Fund Management LLC boosted its position in shares of 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 last quarter. BlackRock Japan Co. Ltd boosted its position in shares of 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 last quarter. Finally, Breton Hill Capital Ltd. acquired a new position in shares of DiamondRock Hospitality during the second quarter worth approximately $146,000.
Shares of DiamondRock Hospitality Co. (NYSE:DRH) traded down 0.75% during trading on Friday, reaching $9.21. The company’s stock had a trading volume of 6,837,137 shares. The company has a 50-day moving average price of $10.08 and a 200-day moving average price of $9.53. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 16.75 and a beta of 1.47. DiamondRock Hospitality Co. has a one year low of $7.28 and a one year high of $12.84.
DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 was up 2.8% on a year-over-year basis. During the same period last year, the company earned $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 fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 annualized dividend and a dividend yield of 5.43%. DiamondRock Hospitality’s dividend payout ratio (DPR) is 89.29%.
Several research analysts have recently issued reports on the stock. Deutsche Bank AG restated a “hold” rating and issued a $11.00 target price on shares of DiamondRock Hospitality in a report on Sunday, June 26th. Barclays PLC restated a “buy” rating and issued a $11.00 target price on shares of DiamondRock Hospitality in a report on Thursday, August 11th. Zacks Investment Research upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Janney Montgomery Scott assumed coverage on shares of DiamondRock Hospitality in a report on Monday, May 23rd. They issued a “neutral” rating and a $9.50 target price on the stock. Finally, TheStreet upgraded shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. DiamondRock Hospitality presently has a consensus rating of “Hold” and an average target price of $11.27.
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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