Victory Capital Management Inc. lowered its position in DiamondRock Hospitality (NYSE:DRH) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,723,620 shares of the real estate investment trust’s stock after selling 143,560 shares during the period. Victory Capital Management Inc. owned approximately 1.84% of DiamondRock Hospitality worth $40,327,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in DiamondRock Hospitality by 31.2% in the 1st quarter. SG Americas Securities LLC now owns 260,349 shares of the real estate investment trust’s stock valued at $2,820,000 after buying an additional 61,934 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in DiamondRock Hospitality by 1,924.1% in the 1st quarter. Quadrant Capital Group LLC now owns 6,720 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 6,388 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in DiamondRock Hospitality by 6.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 34,142 shares of the real estate investment trust’s stock valued at $370,000 after buying an additional 2,200 shares in the last quarter. Bank of Montreal Can grew its holdings in DiamondRock Hospitality by 2.3% in the 1st quarter. Bank of Montreal Can now owns 47,249 shares of the real estate investment trust’s stock valued at $511,000 after buying an additional 1,072 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in DiamondRock Hospitality by 50.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 394,990 shares of the real estate investment trust’s stock valued at $4,278,000 after buying an additional 131,578 shares in the last quarter.
Several brokerages have issued reports on DRH. TheStreet upgraded DiamondRock Hospitality from a “c+” rating to a “b-” rating in a report on Friday, February 15th. Deutsche Bank reiterated a “hold” rating and set a $12.00 price target on shares of DiamondRock Hospitality in a report on Thursday, February 28th. Wells Fargo & Co reiterated a “sell” rating on shares of DiamondRock Hospitality in a report on Wednesday, March 6th. Zacks Investment Research cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Finally, ValuEngine upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $10.58.
Shares of NYSE DRH traded up $0.01 during mid-day trading on Thursday, reaching $10.86. 35,983 shares of the company’s stock were exchanged, compared to its average volume of 2,557,093. The stock has a market cap of $2.13 billion, a PE ratio of 10.65, a P/E/G ratio of 2.06 and a beta of 1.43. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.62. DiamondRock Hospitality has a 52-week low of $8.69 and a 52-week high of $12.99.
DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The business had revenue of $202.38 million for the quarter, compared to analysts’ expectations of $194.62 million. DiamondRock Hospitality had a return on equity of 4.90% and a net margin of 10.44%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. Research analysts predict that DiamondRock Hospitality will post 1.03 EPS for the current year.
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DiamondRock Hospitality Profile
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 31 premium quality hotels with over 10,000 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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