Diamondrock Hospitality Company (DRH) Announces Quarterly Earnings Results
Diamondrock Hospitality Company (NYSE:DRH) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25, Bloomberg Earnings reports. The company had revenue of $223.50 million for the quarter, compared to analysts’ expectations of $223.30 million. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. Diamondrock Hospitality’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. Diamondrock Hospitality updated its FY17 guidance to $0.95-0.98 EPS.
Diamondrock Hospitality (DRH) opened at $11.04 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.45 and a current ratio of 2.45. Diamondrock Hospitality has a 12 month low of $8.73 and a 12 month high of $12.07. The firm has a market cap of $2,193.34, a price-to-earnings ratio of 10.95, a PEG ratio of 2.22 and a beta of 1.33.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.53%. Diamondrock Hospitality’s dividend payout ratio (DPR) is presently 102.04%.
Several brokerages have issued reports on DRH. Zacks Investment Research cut shares of Diamondrock Hospitality from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Stifel Nicolaus reissued a “buy” rating on shares of Diamondrock Hospitality in a research note on Thursday, August 10th. Boenning Scattergood set a $10.00 price objective on shares of Diamondrock Hospitality and gave the company a “sell” rating in a research note on Thursday, October 26th. UBS AG raised shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. Finally, Evercore ISI raised shares of Diamondrock Hospitality to an “underperform” rating in a research note on Monday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.
In related news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $11.20, for a total value of $67,200.00. Following the sale, the director now directly owns 81,030 shares in the company, valued at approximately $907,536. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.
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.
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