Todays Report: The Strs Ohio lowers its Position in DiamondRock Hospitality Co. (DRH)

The Strs Ohio lowers its Position in DiamondRock Hospitality Co. (DRH)

Strs Ohio decreased its position in shares of DiamondRock Hospitality Co. (NYSE:DRH) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 367,898 shares of the real estate investment trust’s stock after selling 6,134 shares during the period. Strs Ohio’s holdings in DiamondRock Hospitality were worth $3,322,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. State Street Corp increased its position in shares of DiamondRock Hospitality by 4.8% in the first quarter. State Street Corp now owns 6,998,326 shares of the real estate investment trust’s stock valued at $70,820,000 after buying an additional 317,694 shares in the last quarter. M&T Bank Corp increased its position 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. Menta Capital LLC purchased a new position in shares of DiamondRock Hospitality during the first quarter valued at $1,760,000. Royce & Associates LP purchased a new position in shares of DiamondRock Hospitality during the first quarter valued at $1,012,000. Finally, Brookfield Asset Management Inc. purchased a new position in shares of DiamondRock Hospitality during the first quarter valued at $43,674,000.

Shares of DiamondRock Hospitality Co. (NYSE:DRH) remained flat at $9.01 during mid-day trading on Friday. 2,485,625 shares of the stock traded hands. DiamondRock Hospitality Co. has a one year low of $7.28 and a one year high of $12.84. The stock’s 50 day moving average price is $9.64 and its 200 day moving average price is $9.49. The company has a market capitalization of $1.81 billion, a P/E ratio of 16.38 and a beta of 1.53.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 earned $256.66 million during the quarter, compared to analysts’ expectations of $259.26 million. During the same period in the previous year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts predict that DiamondRock Hospitality Co. will post $1.02 EPS for the current fiscal year.

The business also recently announced 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. The ex-dividend date is Wednesday, September 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.55%. DiamondRock Hospitality’s dividend payout ratio is currently 89.29%.

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

About DiamondRock Hospitality

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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