Prudential Financial Inc. Has $65.81 Million Stake in DiamondRock Hospitality (DRH)

Prudential Financial Inc. increased its position in DiamondRock Hospitality (NYSE:DRH) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,010,323 shares of the real estate investment trust’s stock after buying an additional 200,537 shares during the period. Prudential Financial Inc. owned about 3.00% of DiamondRock Hospitality worth $65,813,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AXA grew its holdings in DiamondRock Hospitality by 21.1% in the third quarter. AXA now owns 507,001 shares of the real estate investment trust’s stock valued at $5,552,000 after purchasing an additional 88,217 shares during the period. Public Employees Retirement System of Ohio grew its holdings in DiamondRock Hospitality by 1.8% in the third quarter. Public Employees Retirement System of Ohio now owns 269,827 shares of the real estate investment trust’s stock valued at $2,955,000 after purchasing an additional 4,887 shares during the period. GSA Capital Partners LLP grew its holdings in 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 valued at $239,000 after purchasing an additional 5,379 shares during the period. Sterling Capital Management LLC purchased a new stake in DiamondRock Hospitality in the third quarter valued at approximately $1,225,000. Finally, Vident Investment Advisory LLC grew its holdings in DiamondRock Hospitality by 4.6% in the third quarter. Vident Investment Advisory LLC now owns 221,327 shares of the real estate investment trust’s stock valued at $2,423,000 after purchasing an additional 9,636 shares during the period.

Shares of DiamondRock Hospitality (NYSE:DRH) opened at $11.21 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.41 and a current ratio of 2.41. DiamondRock Hospitality has a 52 week low of $10.43 and a 52 week high of $12.07. The stock has a market cap of $2,257.44, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 2.28 and a beta of 1.33.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. DiamondRock Hospitality had a net margin of 10.47% and a return on equity of 4.97%. The company had revenue of $223.50 million during the quarter, compared to the consensus estimate of $223.30 million. During the same period in the previous year, the firm earned $0.26 earnings per share. DiamondRock Hospitality’s revenue for the quarter was up 1.5% on a year-over-year basis. sell-side analysts predict that DiamondRock Hospitality will post 0.97 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.50 annualized dividend and a yield of 4.46%. DiamondRock Hospitality’s dividend payout ratio is currently 111.11%.

A number of equities research analysts recently issued reports on the stock. TheStreet upgraded shares of DiamondRock Hospitality from a “c+” rating to a “b-” rating in a report on Friday, December 29th. Stifel Nicolaus restated a “buy” rating and issued a $12.00 target price on shares of DiamondRock Hospitality in a report on Thursday, September 21st. Robert W. Baird set a $12.00 target price on shares of DiamondRock Hospitality and gave the company a “buy” rating in a report on Sunday, September 10th. Zacks Investment Research downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Finally, KeyCorp restated a “hold” rating on shares of DiamondRock Hospitality in a report on Sunday, September 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. DiamondRock Hospitality has a consensus rating of “Buy” and an average price target of $12.00.

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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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