Shinko Asset Management Co. Ltd. boosted its position in DiamondRock Hospitality Co. (NYSE:DRH) by 15.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,469,467 shares of the real estate investment trust’s stock after buying an additional 1,292,452 shares during the period. Shinko Asset Management Co. Ltd.’s holdings in DiamondRock Hospitality were worth $85,509,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hancock Holding Co. purchased a new position in DiamondRock Hospitality during the first quarter worth about $103,000. 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 worth $111,000 after buying an additional 636 shares during the last quarter. 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 worth $119,000 after buying an additional 372 shares during the last quarter. Breton Hill Capital Ltd. purchased a new position in DiamondRock Hospitality during the second quarter worth about $146,000. Finally, M&T Bank Corp increased its position in DiamondRock Hospitality by 25.9% in the first quarter. M&T Bank Corp now owns 18,575 shares of the real estate investment trust’s stock worth $189,000 after buying an additional 3,818 shares during the last quarter.

Shares of DiamondRock Hospitality Co. (NYSE:DRH) traded down 0.75% on Friday, hitting $9.21. The stock had a trading volume of 6,837,137 shares. DiamondRock Hospitality Co. has a 52 week low of $7.28 and a 52 week high of $12.84. The company has a 50-day moving average of $10.08 and a 200 day moving average of $9.53. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 16.75 and a beta of 1.47.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. DiamondRock Hospitality had a return on equity of 6.24% and a net margin of 11.80%. The firm had revenue of $256.66 million for the quarter, compared to analyst estimates of $259.26 million. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that DiamondRock Hospitality Co. will post $1.02 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Wednesday, September 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 89.29%.

DRH has been the subject of a number of analyst reports. Canaccord Genuity restated a “buy” rating and issued a $12.00 price target on shares of DiamondRock Hospitality in a research note on Tuesday, August 16th. Barclays PLC restated a “buy” rating and issued a $11.00 price target on shares of DiamondRock Hospitality in a research note on Thursday, August 11th. TheStreet upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research note on Tuesday, July 19th. Zacks Investment Research upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $11.00 price target on shares of DiamondRock Hospitality in a research note on Sunday, June 26th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.27.

About DiamondRock Hospitality

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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