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DekaBank Deutsche Girozentrale increased its holdings in DiamondRock Hospitality (NYSE:DRH – Free Report) by 52.4% in the third quarter, according to Holdings Channel. The fund owns 80,429 shares of the real estate investment trust stock after purchasing an additional 27,648 shares during the quarter. DekaBank Deutsche Girozentrale’s stake in DiamondRock Hospitality was worth $639,000 as of its most recent SEC filing.
Other hedge funds have also recently adjusted their holdings in the company. National Bank of Canada FI bought a new stake in shares of DiamondRock Hospitality in the third quarter worth approximately $30,000. BOKF NA purchased a new position in DiamondRock Hospitality during the second quarter worth $56,000. Tower Research Capital LLC TRC raised its holdings in shares of DiamondRock Hospitality by 711.7% in the first quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust’s stock valued at $58,000, after purchasing an additional 6,242 shares during the period. Advisor Partners II LLC purchased a new position in DiamondRock Hospitality during the first quarter valued at $83,000. Finally, Mackenzie Financial Corp lifted its holdings in DiamondRock Hospitality by 10.8% in the first quarter. Mackenzie Financial Corp now owns 13,036 shares of the real estate investment trust’s stock valued at $132,000, after purchasing an additional 1,272 shares during the period.
Wall Street analysts comment
Several brokerages have recently commented on DRH. Stifel Nicolaus raised their target price on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research report on Friday. StockNews.com downgraded DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd. Morgan Stanley raised their target price on shares of DiamondRock Hospitality from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 7th. Wells Fargo & Company raised their target price on shares of DiamondRock Hospitality from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, December 22nd. Finally, Wolfe Research initiated coverage on DiamondRock Hospitality in a research note on Wednesday, January 10th. They issued an “outperform” rating and an $11.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.75, according to MarketBeat.
Get our latest research report on DRH
DiamondRock Hospitality shares fell 0.2%
Shares of DRH opened Friday at $9.33 on the New York Stock Exchange. The stock has a market capitalization of $1.96 billion, a P/E ratio of 25.92, and a beta of 1.61. The business has a 50-day moving average of $9.32 and a 200-day moving average of $8.53. DiamondRock Hospitality has a 52-week low of $7.14 and a 52-week low of $9.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.82, and a current ratio of 1.82.
DiamondRock Hospitality (NYSE:DRH – Get Free Report ) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.14). The company’s revenue for the quarter was $263.5 million, compared with the consensus estimate of $261.45 million. DiamondRock Hospitality’s net profit margin was 8.03% and return on equity was 5.31%. Compared with the same period last year, the company’s revenue increased by 3.3%. In the same period last year, the company earned $0.23 per share. As a group, equities research analysts expect that DiamondRock Hospitality will post earnings of $0.95 per share for the current fiscal year.
DiamondRock Hospitality declares dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Friday, December 29th were issued a $0.03 dividend. The ex-dividend date for this dividend is Thursday, December 28. This represents an annualized dividend of $0.12 and a dividend yield of 1.29%. DiamondRock Hospitality’s dividend payout ratio (DPR) currently stands at 33.33%.
Diamond Stone Hotel Company Profile
(free report)
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) with a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The company currently has 36 high-quality hotels with a total of more than 9,700 rooms. The company has strategically positioned its portfolio to operate under the names of leading global brand families as well as independent boutique hotels in the lifestyle segment.
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Want to know which other hedge funds hold DRH? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for DiamondRock Hospitality (NYSE:DRH – Free Report).
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