California State Teachers Retirement System trimmed its holdings in shares of Diamondrock Hospitality Company (NYSE:DRH) by 10.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 354,523 shares of the real estate investment trust’s stock after selling 41,073 shares during the quarter. California State Teachers Retirement System owned 0.18% of Diamondrock Hospitality worth $3,882,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ronald Blue & Co. LLC increased its position in shares of Diamondrock Hospitality by 1.0% during the second quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 116 shares during the last quarter. HRT Financial LLC purchased a new stake in shares of Diamondrock Hospitality during the second quarter worth about $142,000. World Asset Management Inc increased its position in shares of Diamondrock Hospitality by 2.2% during the second quarter. World Asset Management Inc now owns 13,047 shares of the real estate investment trust’s stock worth $143,000 after acquiring an additional 282 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Diamondrock Hospitality by 15.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,787 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 2,081 shares during the last quarter. Finally, ARP Americas LLC purchased a new stake in shares of Diamondrock Hospitality during the second quarter worth about $177,000.

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Diamondrock Hospitality Company (NYSE DRH) opened at $10.95 on Friday. The company has a market capitalization of $2,193.34, a P/E ratio of 10.95, a PEG ratio of 2.22 and a beta of 1.33. Diamondrock Hospitality Company has a fifty-two week low of $8.73 and a fifty-two week high of $12.07. The company has a current ratio of 2.45, a quick ratio of 2.45 and a debt-to-equity ratio of 0.51.

Diamondrock Hospitality (NYSE:DRH) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $243.30 million during the quarter, compared to analyst estimates of $240.73 million. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 earnings per share. sell-side analysts predict that Diamondrock Hospitality Company will post 0.99 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Thursday, September 28th. Diamondrock Hospitality’s dividend payout ratio (DPR) is presently 102.04%.

A number of brokerages have recently issued reports on DRH. ING Group raised Diamondrock Hospitality to an “outperform” rating and set a $13.00 target price on the stock in a research report on Monday, July 17th. They noted that the move was a valuation call. BidaskClub lowered Diamondrock Hospitality from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Canaccord Genuity reissued a “buy” rating and issued a $13.00 price objective on shares of Diamondrock Hospitality in a report on Monday, August 7th. Raymond James Financial, Inc. raised Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a report on Friday, July 14th. Finally, UBS AG raised Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Diamondrock Hospitality currently has an average rating of “Hold” and an average price target of $12.00.

In other news, Director Maureen L. Mcavey sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $11.20, for a total transaction of $67,200.00. Following the completion of the transaction, the director now directly owns 81,030 shares of the company’s stock, valued at $907,536. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Diamondrock Hospitality 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.

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

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