Shell Asset Management Co. Maintains Stake in Diamondrock Hospitality Company (NYSE:DRH)

Shell Asset Management Co. held its position in shares of Diamondrock Hospitality Company (NYSE:DRH) during the second quarter, according to its most recent filing with the SEC. The firm owned 76,745 shares of the real estate investment trust’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Diamondrock Hospitality were worth $840,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DRH. World Asset Management Inc boosted its position in shares of Diamondrock Hospitality by 0.9% in the first quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 108 shares during the period. Ronald Blue & Co. LLC boosted its stake in Diamondrock Hospitality by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 483 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Diamondrock Hospitality by 5.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 741 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its stake in Diamondrock Hospitality by 6.3% in the first quarter. Glen Harbor Capital Management LLC now owns 13,226 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 782 shares during the last quarter.

Shares of Diamondrock Hospitality Company (NYSE DRH) opened at 10.93 on Friday. Diamondrock Hospitality Company has a one year low of $8.73 and a one year high of $12.08. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 22.13 and a beta of 1.38. The firm’s 50-day moving average is $11.48 and its 200-day moving average is $11.24.

Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The company had revenue of $243.30 million during the quarter, compared to the consensus estimate of $240.73 million. During the same period in the previous year, the company posted $0.31 earnings per share. Diamondrock Hospitality’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts forecast that Diamondrock Hospitality Company will post $0.48 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Wednesday, June 28th. Diamondrock Hospitality’s payout ratio is presently 102.04%.

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A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus restated a “buy” rating on shares of Diamondrock Hospitality in a research note on Thursday. Canaccord Genuity restated a “buy” rating and set a $13.00 target price on shares of Diamondrock Hospitality in a research note on Monday. BidaskClub upgraded shares of Diamondrock Hospitality from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, ING Group upgraded 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. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.56.

About Diamondrock Hospitality

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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Institutional Ownership by Quarter for Diamondrock Hospitality (NYSE:DRH)

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