Veritable L.P. Acquires 3,775 Shares of Diamondrock Hospitality Company (DRH)
Veritable L.P. raised its holdings in shares of Diamondrock Hospitality Company (NYSE:DRH) by 13.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,842 shares of the real estate investment trust’s stock after acquiring an additional 3,775 shares during the period. Veritable L.P.’s holdings in Diamondrock Hospitality were worth $349,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in shares of Diamondrock Hospitality in the 1st quarter valued at $116,000. Ronald Blue & Co. LLC increased its stake in shares of Diamondrock Hospitality by 1.0% in 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 period. Piedmont Investment Advisors LLC acquired a new stake in shares of Diamondrock Hospitality in the first quarter worth $134,000. World Asset Management Inc increased its stake in shares of Diamondrock Hospitality by 0.9% in the first quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 108 shares during the period. Finally, HRT Financial LLC acquired a new stake in shares of Diamondrock Hospitality in the second quarter worth $142,000.
In other Diamondrock Hospitality news, Director Maureen L. Mcavey sold 6,000 shares of Diamondrock Hospitality stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $11.20, for a total value of $67,200.00. Following the sale, the director now owns 81,030 shares of the company’s stock, valued at approximately $907,536. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
Shares of Diamondrock Hospitality Company (NYSE:DRH) opened at 10.77 on Wednesday. The stock has a 50 day moving average price of $10.83 and a 200-day moving average price of $11.14. The stock has a market capitalization of $2.16 billion, a PE ratio of 21.80 and a beta of 1.39. Diamondrock Hospitality Company has a 52-week low of $8.73 and a 52-week high of $12.08.
Diamondrock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $243.30 million for the quarter, compared to analyst estimates of $240.73 million. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 earnings per share. On average, equities research analysts anticipate that Diamondrock Hospitality Company will post $0.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be given a $0.125 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.50 dividend on an annualized basis and a yield of 4.64%. Diamondrock Hospitality’s payout ratio is currently 102.04%.
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A number of research analysts recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating on shares of Diamondrock Hospitality in a research report on Thursday, August 10th. Zacks Investment Research downgraded Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. UBS AG raised Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research report on Friday, July 14th. BidaskClub upgraded Diamondrock Hospitality from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $13.00 price target on shares of Diamondrock Hospitality in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.92.
Diamondrock Hospitality 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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