Resolution Capital Ltd increased its holdings in DiamondRock Hospitality (NYSE:DRH) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,397,378 shares of the real estate investment trust’s stock after purchasing an additional 1,164,594 shares during the period. DiamondRock Hospitality makes up 4.2% of Resolution Capital Ltd’s investment portfolio, making the stock its 9th biggest holding. Resolution Capital Ltd’s holdings in DiamondRock Hospitality were worth $94,806,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Prudential Financial Inc. boosted its holdings in DiamondRock Hospitality by 3.5% in the third quarter. Prudential Financial Inc. now owns 6,010,323 shares of the real estate investment trust’s stock worth $65,813,000 after purchasing an additional 200,537 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in DiamondRock Hospitality by 15.1% in the third quarter. Ameriprise Financial Inc. now owns 1,926,115 shares of the real estate investment trust’s stock worth $21,090,000 after purchasing an additional 253,123 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in DiamondRock Hospitality by 1.7% in the third quarter. Asset Management One Co. Ltd. now owns 520,659 shares of the real estate investment trust’s stock worth $5,709,000 after purchasing an additional 8,692 shares in the last quarter. Shell Asset Management Co. boosted its holdings in DiamondRock Hospitality by 133.6% in the third quarter. Shell Asset Management Co. now owns 179,284 shares of the real estate investment trust’s stock worth $2,273,000 after purchasing an additional 102,539 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its holdings in DiamondRock Hospitality by 15.7% in the third quarter. Macquarie Group Ltd. now owns 74,300 shares of the real estate investment trust’s stock worth $814,000 after purchasing an additional 10,100 shares in the last quarter.
Shares of DiamondRock Hospitality (NYSE DRH) opened at $11.47 on Monday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.51. DiamondRock Hospitality has a fifty-two week low of $10.43 and a fifty-two week high of $12.11. The stock has a market cap of $2,297.50, a PE ratio of 11.59, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.
DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. DiamondRock Hospitality had a net margin of 10.47% and a return on equity of 4.97%. The company had revenue of $223.50 million during the quarter, compared to analysts’ expectations of $223.30 million. During the same period in the prior year, the company earned $0.26 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. equities research analysts predict that DiamondRock Hospitality will post 0.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, December 28th. DiamondRock Hospitality’s payout ratio is presently 111.11%.
A number of brokerages recently issued reports on DRH. Robert W. Baird reiterated a “buy” rating and issued a $12.00 price objective on shares of DiamondRock Hospitality in a report on Friday, November 10th. Evercore ISI upgraded shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a report on Monday, December 4th. TheStreet cut shares of DiamondRock Hospitality from a “b” rating to a “c+” rating in a report on Monday, November 6th. Boenning Scattergood upgraded shares of DiamondRock Hospitality from an “under perform” rating to a “neutral” rating in a report on Friday, December 8th. Finally, Zacks Investment Research cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $12.00.
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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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