Trading Report: The Louisiana State Employees Retirement System Continues to Hold Stake in DiamondRock Hospitality Co. (DRH)

The Louisiana State Employees Retirement System Continues to Hold Stake in DiamondRock Hospitality Co. (DRH)

Louisiana State Employees Retirement System continued to hold its stake in shares of DiamondRock Hospitality Co. (NYSE:DRH) during the second quarter, Holdings Channel reports. The firm owned 88,900 shares of the real estate investment trust’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in DiamondRock Hospitality were worth $803,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Hancock Holding Co. bought a new stake in shares of DiamondRock Hospitality during the first quarter valued at about $103,000. Boothbay Fund Management LLC increased its stake in shares of DiamondRock Hospitality by 6.1% in the first quarter. Boothbay Fund Management LLC now owns 10,983 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 636 shares in the last quarter. BlackRock Japan Co. Ltd increased its stake in shares of DiamondRock Hospitality by 3.3% in the first quarter. BlackRock Japan Co. Ltd now owns 11,768 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 372 shares in the last quarter. Breton Hill Capital Ltd. bought a new stake in shares of DiamondRock Hospitality during the second quarter valued at about $146,000. Finally, M&T Bank Corp increased its stake in shares of DiamondRock Hospitality by 25.9% in the first quarter. M&T Bank Corp now owns 18,575 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 3,818 shares in the last quarter.

Shares of DiamondRock Hospitality Co. (NYSE:DRH) remained flat at $9.01 during midday trading on Friday. The stock had a trading volume of 2,485,625 shares. The firm has a 50 day moving average price of $9.64 and a 200-day moving average price of $9.49. The company has a market cap of $1.81 billion, a PE ratio of 16.38 and a beta of 1.53. DiamondRock Hospitality Co. has a 52-week low of $7.28 and a 52-week high of $12.84.

DiamondRock Hospitality (NYSE:DRH) last issued its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.01. DiamondRock Hospitality had a net margin of 11.80% and a return on equity of 6.24%. The firm had revenue of $256.66 million for the quarter, compared to analyst estimates of $259.26 million. During the same quarter last year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts anticipate that DiamondRock Hospitality Co. will post $1.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 12th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend is Wednesday, September 28th. DiamondRock Hospitality’s dividend payout ratio is presently 89.29%.

Several brokerages have recently issued reports on DRH. Deutsche Bank AG restated a “hold” rating and issued a $11.00 price objective on shares of DiamondRock Hospitality in a research report on Sunday, June 26th. Barclays PLC restated a “buy” rating and issued a $11.00 price objective on shares of DiamondRock Hospitality in a research report on Thursday, August 11th. Zacks Investment Research upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. TheStreet upgraded DiamondRock Hospitality from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Finally, Canaccord Genuity restated a “buy” rating and issued a $12.00 price objective on shares of DiamondRock Hospitality in a research report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $10.91.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.

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