Shell Asset Management Co. Purchases Shares of 86,633 DiamondRock Hospitality Co. (DRH)
Shell Asset Management Co. bought a new stake in shares of DiamondRock Hospitality Co. (NYSE:DRH) during the second quarter, Holdings Channel reports. The firm bought 86,633 shares of the real estate investment trust’s stock, valued at approximately $782,000.
Other institutional investors have also bought and sold shares of the company. BlackRock Japan Co. Ltd raised its position in DiamondRock Hospitality by 3.3% in the first quarter. BlackRock Japan Co. Ltd now owns 11,768 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 372 shares during the period. Nisa Investment Advisors LLC raised its position in DiamondRock Hospitality by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 104,549 shares of the real estate investment trust’s stock valued at $944,000 after buying an additional 550 shares during the period. Boothbay Fund Management LLC raised its position in DiamondRock Hospitality by 6.1% in the first quarter. Boothbay Fund Management LLC now owns 10,983 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 636 shares during the period. Barclays PLC raised its position in DiamondRock Hospitality by 0.6% in the first quarter. Barclays PLC now owns 131,900 shares of the real estate investment trust’s stock valued at $1,319,000 after buying an additional 801 shares during the period. Finally, Glenmede Trust Co. NA raised its position in DiamondRock Hospitality by 3.9% in the first quarter. Glenmede Trust Co. NA now owns 36,901 shares of the real estate investment trust’s stock valued at $372,000 after buying an additional 1,369 shares during the period.
DiamondRock Hospitality Co. (NYSE:DRH) traded up 0.56% during trading on Thursday, hitting $9.01. The company had a trading volume of 2,023,173 shares. The company has a market cap of $1.81 billion, a PE ratio of 16.38 and a beta of 1.53. DiamondRock Hospitality Co. has a 12 month low of $7.28 and a 12 month high of $12.84. The company’s 50 day moving average price is $9.67 and its 200-day moving average price is $9.49.
DiamondRock Hospitality (NYSE:DRH) last posted its earnings results on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. DiamondRock Hospitality had a net margin of 11.80% and a return on equity of 6.24%. The firm earned $256.66 million during the quarter, compared to analyst estimates of $259.26 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts expect that DiamondRock Hospitality Co. will post $1.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 12th. Investors of record on Friday, September 30th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a yield of 5.55%. DiamondRock Hospitality’s payout ratio is presently 89.29%.
Several research firms recently commented on DRH. Deutsche Bank AG reissued a “hold” rating and issued a $11.00 target price on shares of DiamondRock Hospitality in a report on Sunday, June 26th. Citigroup Inc. increased their target price on DiamondRock Hospitality from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Wednesday. Canaccord Genuity reissued a “buy” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a report on Tuesday, August 16th. Zacks Investment Research raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of DiamondRock Hospitality in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. DiamondRock Hospitality presently has an average rating of “Hold” and an average target price of $10.91.
DiamondRock Hospitality Company Profile
DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.
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