Teacher Retirement System of Texas reduced its stake in shares of Diamondrock Hospitality Company (NYSE:DRH) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,993 shares of the real estate investment trust’s stock after selling 9,185 shares during the period. Teacher Retirement System of Texas’ holdings in Diamondrock Hospitality were worth $5,026,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DRH. UBS Asset Management Americas Inc. raised its stake in shares of Diamondrock Hospitality by 70.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 647,100 shares of the real estate investment trust’s stock valued at $7,460,000 after buying an additional 266,681 shares during the period. Teachers Advisors LLC raised its stake in shares of Diamondrock Hospitality by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 1,430,574 shares of the real estate investment trust’s stock valued at $16,495,000 after buying an additional 16,988 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Diamondrock Hospitality 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 during the period. Everence Capital Management Inc. bought a new stake in shares of Diamondrock Hospitality during the first quarter valued at about $157,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Diamondrock Hospitality by 19.4% in the first quarter. State of Alaska Department of Revenue now owns 176,749 shares of the real estate investment trust’s stock valued at $1,969,000 after buying an additional 28,740 shares during the period.

Shares of Diamondrock Hospitality Company (DRH) opened at 11.20 on Thursday. Diamondrock Hospitality Company has a 1-year low of $8.73 and a 1-year high of $12.07. The company’s 50 day moving average is $11.44 and its 200-day moving average is $11.22. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 22.67 and a beta of 1.38.

Diamondrock Hospitality (NYSE:DRH) last announced its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $243.30 million for the quarter, compared to the consensus estimate of $240.73 million. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. Equities analysts anticipate that Diamondrock Hospitality Company will post $0.46 earnings per share for the current fiscal year.

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DRH has been the topic of several research analyst reports. Canaccord Genuity restated a “buy” rating and issued a $13.00 price objective on shares of Diamondrock Hospitality in a report on Friday, May 5th. Zacks Investment Research upgraded shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, May 12th. Stifel Nicolaus upgraded shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.50 to $11.75 in a research note on Monday, May 15th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Diamondrock Hospitality presently has a consensus rating of “Hold” and a consensus target price of $11.56.

In related news, Director Maureen L. Mcavey sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $11.20, for a total transaction of $67,200.00. Following the sale, the director now directly owns 81,030 shares in the company, valued at approximately $907,536. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

About Diamondrock Hospitality

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

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