Resolution Capital Ltd boosted its position in shares of DiamondRock Hospitality Company (NYSE:DRH) by 7.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,547,808 shares of the real estate investment trust’s stock after buying an additional 471,562 shares during the period. DiamondRock Hospitality Company makes up approximately 3.6% of Resolution Capital Ltd’s holdings, making the stock its 12th largest position. Resolution Capital Ltd owned approximately 3.27% of DiamondRock Hospitality Company worth $73,008,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in DRH. FMR LLC boosted its position in DiamondRock Hospitality Company by 18.6% in the fourth quarter. FMR LLC now owns 20,879,541 shares of the real estate investment trust’s stock worth $240,741,000 after buying an additional 3,280,597 shares during the period. Norges Bank purchased a new position in DiamondRock Hospitality Company during the fourth quarter worth about $23,800,000. Morgan Stanley boosted its position in DiamondRock Hospitality Company by 95.6% in the third quarter. Morgan Stanley now owns 3,327,423 shares of the real estate investment trust’s stock worth $30,278,000 after buying an additional 1,626,459 shares during the period. Russell Investments Group Ltd. purchased a new position in DiamondRock Hospitality Company during the fourth quarter worth about $16,884,000. Finally, KRV Capital LP purchased a new position in DiamondRock Hospitality Company during the third quarter worth about $9,100,000.
Shares of DiamondRock Hospitality Company (NYSE:DRH) traded up 1.37% during midday trading on Friday, reaching $11.13. 1,632,569 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $11.04 and a 200 day moving average price of $10.98. DiamondRock Hospitality Company has a 12 month low of $8.37 and a 12 month high of $12.00. The firm has a market cap of $2.23 billion, a PE ratio of 21.00 and a beta of 1.28.
DiamondRock Hospitality Company (NYSE:DRH) last issued its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. DiamondRock Hospitality Company had a net margin of 12.62% and a return on equity of 6.37%. The business had revenue of $196.21 million during the quarter, compared to the consensus estimate of $192.85 million. During the same period in the prior year, the firm posted $0.21 EPS. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. Equities research analysts predict that DiamondRock Hospitality Company will post $0.50 earnings per share for the current year.
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DRH has been the subject of a number of research reports. Stifel Nicolaus upgraded DiamondRock Hospitality Company from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.50 to $11.75 in a report on Monday. They noted that the move was a valuation call. Zacks Investment Research cut DiamondRock Hospitality Company from a “buy” rating to a “hold” rating in a report on Monday, February 13th. Boenning Scattergood reiterated an “underperform” rating on shares of DiamondRock Hospitality Company in a report on Wednesday, April 12th. Evercore ISI cut DiamondRock Hospitality Company from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. Finally, Canaccord Genuity restated a “buy” rating and issued a $13.00 price objective on shares of DiamondRock Hospitality Company in a report on Monday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $11.02.
About DiamondRock Hospitality Company
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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