OppenheimerFunds Inc. grew its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,795,408 shares of the real estate investment trust’s stock after acquiring an additional 73,452 shares during the quarter. OppenheimerFunds Inc. owned about 1.34% of DiamondRock Hospitality worth $34,327,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of DRH. Federated Investors Inc. PA increased its stake in shares of DiamondRock Hospitality by 469.2% during the second quarter. Federated Investors Inc. PA now owns 10,661 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 8,788 shares during the period. Natixis increased its stake in shares of DiamondRock Hospitality by 43.0% during the first quarter. Natixis now owns 14,990 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 4,505 shares during the period. Jane Street Group LLC purchased a new stake in DiamondRock Hospitality in the first quarter worth $269,000. DekaBank Deutsche Girozentrale purchased a new stake in DiamondRock Hospitality in the first quarter worth $310,000. Finally, Acadian Asset Management LLC purchased a new stake in DiamondRock Hospitality in the second quarter worth $318,000.
Several equities research analysts recently weighed in on DRH shares. Citigroup upped their price target on DiamondRock Hospitality from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Zacks Investment Research raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Monday, July 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $12.32.
Shares of NYSE:DRH traded down $0.04 during midday trading on Friday, reaching $11.20. 3,093,648 shares of the company’s stock traded hands, compared to its average volume of 2,121,485. The company has a market cap of $2.43 billion, a P/E ratio of 11.20, a PEG ratio of 3.32 and a beta of 1.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.43. DiamondRock Hospitality has a one year low of $9.87 and a one year high of $12.99.
DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The business had revenue of $236.70 million for the quarter, compared to the consensus estimate of $241.52 million. DiamondRock Hospitality had a net margin of 9.26% and a return on equity of 4.26%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. On average, sell-side analysts anticipate that DiamondRock Hospitality will post 1.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Thursday, September 27th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 50.00%.
About DiamondRock Hospitality
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 30 premium quality hotels with over 9,900 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.
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