Cubist Systematic Strategies LLC Buys 61,356 Shares of Diamondrock Hospitality Company (DRH)
Cubist Systematic Strategies LLC grew its stake in shares of Diamondrock Hospitality Company (NYSE:DRH) by 541.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 72,678 shares of the real estate investment trust’s stock after purchasing an additional 61,356 shares during the period. Cubist Systematic Strategies LLC’s holdings in Diamondrock Hospitality were worth $796,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in Diamondrock Hospitality during the 1st quarter worth approximately $116,000. Ronald Blue & Co. LLC increased its holdings in Diamondrock Hospitality by 1.0% during the 2nd quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 116 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in Diamondrock Hospitality during the 1st quarter worth approximately $134,000. HRT Financial LLC bought a new stake in Diamondrock Hospitality during the 2nd quarter worth approximately $142,000. Finally, World Asset Management Inc increased its holdings in Diamondrock Hospitality by 2.2% during the 2nd quarter. World Asset Management Inc now owns 13,047 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 282 shares in the last quarter.
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 shares were sold at an average price of $11.20, for a total value of $67,200.00. Following the completion of the sale, the director now owns 81,030 shares of the company’s stock, valued at approximately $907,536. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.
A number of analysts have commented on the company. Canaccord Genuity reissued a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality in a report on Monday, August 7th. Zacks Investment Research lowered Diamondrock Hospitality from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Raymond James Financial, Inc. raised Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a report on Friday, July 14th. Robert W. Baird set a $12.00 price objective on Diamondrock Hospitality and gave the stock a “buy” rating in a report on Sunday, September 10th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $12.00 price objective on shares of Diamondrock Hospitality in a report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.00.
Diamondrock Hospitality Company (NYSE DRH) opened at 10.99 on Tuesday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 22.25 and a beta of 1.40. Diamondrock Hospitality Company has a 12-month low of $8.73 and a 12-month high of $12.08. The stock has a 50 day moving average price of $10.86 and a 200 day moving average price of $11.14.
Diamondrock Hospitality (NYSE:DRH) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. The business had revenue of $243.30 million during the quarter, compared to the consensus estimate of $240.73 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. On average, analysts expect that Diamondrock Hospitality Company will post $0.46 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, September 29th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend was Thursday, September 28th. Diamondrock Hospitality’s dividend payout ratio (DPR) is presently 102.04%.
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.
Receive News & Ratings for Diamondrock Hospitality Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diamondrock Hospitality Company and related companies with MarketBeat.com's FREE daily email newsletter.