Millennium Management LLC lifted its stake in DiamondRock Hospitality (NYSE:DRH) by 281.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,601,651 shares of the real estate investment trust’s stock after acquiring an additional 4,870,152 shares during the period. Millennium Management LLC owned approximately 3.30% of DiamondRock Hospitality worth $74,533,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. MANA Advisors LLC acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter worth $142,000. Koch Industries Inc. acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter worth $212,000. GSA Capital Partners LLP grew its stake in shares of DiamondRock Hospitality by 32.7% in the third quarter. GSA Capital Partners LLP now owns 21,821 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 5,379 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of DiamondRock Hospitality by 67.8% in the fourth quarter. CIBC Asset Management Inc now owns 25,156 shares of the real estate investment trust’s stock worth $284,000 after acquiring an additional 10,162 shares during the last quarter. Finally, Foundry Partners LLC grew its stake in shares of DiamondRock Hospitality by 21.0% in the fourth quarter. Foundry Partners LLC now owns 30,760 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 5,340 shares during the last quarter.
Several brokerages have recently issued reports on DRH. TheStreet upgraded shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a research note on Friday, December 29th. Morgan Stanley decreased their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 28th. Boenning Scattergood reiterated a “hold” rating on shares of DiamondRock Hospitality in a research note on Wednesday, February 28th. Finally, Evercore ISI upgraded shares of DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. DiamondRock Hospitality has an average rating of “Hold” and a consensus price target of $11.78.
Shares of DiamondRock Hospitality (NYSE:DRH) opened at $10.80 on Friday. DiamondRock Hospitality has a 52 week low of $9.87 and a 52 week high of $12.11. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a market cap of $2,147.76, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 2.14 and a beta of 1.42.
DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Monday, February 26th. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. DiamondRock Hospitality had a net margin of 10.56% and a return on equity of 5.02%. The firm had revenue of $207.04 million for the quarter, compared to the consensus estimate of $206.36 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. equities analysts forecast that DiamondRock Hospitality will post 1 EPS for the current fiscal year.
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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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