Karp Capital Management Corp purchased a new stake in shares of Diamondrock Hospitality Company (NYSE:DRH) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 66,217 shares of the real estate investment trust’s stock, valued at approximately $738,000.

A number of other institutional investors have also recently modified their holdings of DRH. World Asset Management Inc raised its position in shares of Diamondrock Hospitality Company by 0.9% in the first quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 108 shares in the last quarter. Meadow Creek Investment Management LLC raised its position in shares of Diamondrock Hospitality Company 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 valued at $122,000 after buying an additional 644 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Diamondrock Hospitality Company by 5.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 741 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in shares of Diamondrock Hospitality Company by 6.3% in the first quarter. Glen Harbor Capital Management LLC now owns 13,226 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 782 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Diamondrock Hospitality Company by 1.2% in the first quarter. Louisiana State Employees Retirement System now owns 81,500 shares of the real estate investment trust’s stock valued at $909,000 after buying an additional 1,000 shares in the last quarter.

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

Diamondrock Hospitality Company (NYSE DRH) opened at 11.57 on Friday. The stock has a 50 day moving average price of $11.13 and a 200 day moving average price of $11.18. The firm has a market capitalization of $2.32 billion, a P/E ratio of 21.83 and a beta of 1.35. Diamondrock Hospitality Company has a one year low of $8.57 and a one year high of $12.00.

Diamondrock Hospitality Company (NYSE:DRH) last posted its quarterly earnings results on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The business had revenue of $196.21 million for the quarter, compared to analyst estimates of $192.85 million. Diamondrock Hospitality Company had a net margin of 12.15% and a return on equity of 5.83%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. On average, equities analysts predict that Diamondrock Hospitality Company will post $0.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Investors of record on Friday, June 30th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.50 annualized dividend and a dividend yield of 4.32%. Diamondrock Hospitality Company’s dividend payout ratio is 94.34%.

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DRH has been the topic of a number of recent research reports. Boenning Scattergood reaffirmed an “underperform” rating on shares of Diamondrock Hospitality Company in a report on Wednesday, April 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality Company in a report on Friday, May 5th. Stifel Nicolaus raised Diamondrock Hospitality Company from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.50 to $11.75 in a report on Monday, May 15th. They noted that the move was a valuation call. Zacks Investment Research downgraded Diamondrock Hospitality Company from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, BidaskClub raised Diamondrock Hospitality Company from a “hold” rating to a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $11.25.

Diamondrock Hospitality Company Company Profile

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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