Diamondrock Hospitality Company (NYSE:DRH) released its earnings results on Monday. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01, Bloomberg Earnings reports. Diamondrock Hospitality had a net margin of 12.15% and a return on equity of 5.83%. The business had revenue of $243.30 million for the quarter, compared to analyst estimates of $240.73 million. During the same period last year, the company posted $0.31 EPS. The business’s revenue was up 1.2% on a year-over-year basis.
Diamondrock Hospitality (NYSE DRH) opened at 11.62 on Tuesday. The firm has a 50 day moving average of $11.53 and a 200 day moving average of $11.24. The firm has a market cap of $2.33 billion, a P/E ratio of 21.92 and a beta of 1.38. Diamondrock Hospitality has a 1-year low of $8.73 and a 1-year high of $12.07.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.50 annualized dividend and a dividend yield of 4.30%. Diamondrock Hospitality’s dividend payout ratio (DPR) is 94.34%.
Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of Diamondrock Hospitality during the first quarter worth approximately $116,000. Meadow Creek Investment Management LLC increased its position in shares of Diamondrock Hospitality by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 644 shares in the last quarter. Ronald Blue & Co. LLC increased its position 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 buying an additional 116 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Diamondrock Hospitality during the first quarter worth approximately $134,000. Finally, OLD National Bancorp IN acquired a new position in shares of Diamondrock Hospitality during the first quarter worth approximately $142,000.
A number of research analysts have weighed in on DRH shares. ING Group raised shares of Diamondrock Hospitality to an “outperform” rating and set a $13.00 target price on the stock in a research note on Monday, July 17th. They noted that the move was a valuation call. BidaskClub lowered shares of Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. UBS AG raised shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. Stifel Nicolaus raised shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.50 to $11.75 in a research report on Monday, May 15th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday, June 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $11.56.
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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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