State of Alaska Department of Revenue reduced its stake in shares of Diamondrock Hospitality Company (NYSE:DRH) by 20.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,922 shares of the real estate investment trust’s stock after selling 36,827 shares during the period. State of Alaska Department of Revenue’s holdings in Diamondrock Hospitality Company were worth $1,531,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DRH. BlackRock Inc. increased its stake in Diamondrock Hospitality Company by 4,611.0% in the first quarter. BlackRock Inc. now owns 31,087,897 shares of the real estate investment trust’s stock valued at $346,632,000 after buying an additional 30,427,991 shares during the last quarter. Norges Bank purchased a new stake in Diamondrock Hospitality Company during the fourth quarter valued at $23,800,000. RidgeWorth Capital Management LLC increased its stake in Diamondrock Hospitality Company by 584.5% in the first quarter. RidgeWorth Capital Management LLC now owns 1,705,012 shares of the real estate investment trust’s stock valued at $19,223,000 after buying an additional 1,455,931 shares during the last quarter. LSV Asset Management purchased a new stake in Diamondrock Hospitality Company during the first quarter valued at $10,143,000. Finally, Vanguard Group Inc. increased its stake in Diamondrock Hospitality Company by 2.8% in the first quarter. Vanguard Group Inc. now owns 33,172,615 shares of the real estate investment trust’s stock valued at $369,874,000 after buying an additional 895,263 shares during the last quarter.

Shares of Diamondrock Hospitality Company (NYSE DRH) opened at 11.75 on Monday. Diamondrock Hospitality Company has a one year low of $8.73 and a one year high of $12.00. The firm’s 50-day moving average price is $11.25 and its 200-day moving average price is $11.22. The firm has a market cap of $2.35 billion, a PE ratio of 22.17 and a beta of 1.37.

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 firm 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 quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 earnings per share. Equities research analysts expect that Diamondrock Hospitality Company will post $0.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Wednesday, June 28th. Diamondrock Hospitality Company’s payout ratio is 94.34%.

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DRH has been the subject of several research reports. Stifel Nicolaus raised Diamondrock Hospitality Company from a “hold” rating to a “buy” rating and boosted their target price 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 Thursday, May 25th. Goldman Sachs Group, Inc. (The) initiated coverage on Diamondrock Hospitality Company in a report on Monday, April 10th. They issued a “neutral” rating and a $11.00 target price for the company. Boenning Scattergood reissued an “underperform” rating and issued a $10.00 target price on shares of Diamondrock Hospitality Company in a report on Tuesday, April 18th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $13.00 target price on shares of Diamondrock Hospitality Company in a report on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $11.56.

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

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