Diamondrock Hospitality Company (DRH) Stake Lowered by Teachers Insurance & Annuity Association of America

Teachers Insurance & Annuity Association of America decreased its position in shares of Diamondrock Hospitality Company (NYSE:DRH) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,935 shares of the real estate investment trust’s stock after selling 3,631 shares during the period. Teachers Insurance & Annuity Association of America owned about 0.10% of Diamondrock Hospitality Company worth $2,318,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new stake in shares of Diamondrock Hospitality Company during the first quarter worth about $116,000. Meadow Creek Investment Management LLC increased its stake in Diamondrock Hospitality Company by 6.3% in the first quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 644 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in Diamondrock Hospitality Company by 217.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,950 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 7,500 shares during the period. Ronald Blue & Co. LLC boosted its stake in Diamondrock Hospitality Company by 4.6% in the first quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 483 shares during the period. Finally, OLD National Bancorp IN bought a new stake in shares of Diamondrock Hospitality Company during the first quarter worth $142,000.

Diamondrock Hospitality Company (NYSE DRH) traded up 0.79% on Wednesday, hitting $11.42. 1,229,493 shares of the stock were exchanged. The company’s 50 day moving average is $11.25 and its 200 day moving average is $11.22. The stock has a market cap of $2.29 billion, a PE ratio of 21.55 and a beta of 1.37. Diamondrock Hospitality Company has a 1-year low of $8.73 and a 1-year high of $12.00.

Diamondrock Hospitality Company (NYSE:DRH) last released its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. Diamondrock Hospitality Company had a return on equity of 5.83% and a net margin of 12.15%. The business had revenue of $196.21 million for the quarter, compared to analyst estimates of $192.85 million. During the same period last year, the firm posted $0.21 earnings per share. Diamondrock Hospitality Company’s revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts expect that Diamondrock Hospitality Company will post $0.49 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.125 per share. The ex-dividend date is Wednesday, June 28th. This represents a $0.50 annualized dividend and a yield of 4.41%. Diamondrock Hospitality Company’s payout ratio is currently 94.34%.

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Several brokerages recently issued reports on DRH. Canaccord Genuity reissued a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality Company in a research note on Monday, May 15th. Stifel Nicolaus upgraded shares of Diamondrock Hospitality Company from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.50 to $11.75 in a research report on Monday, May 15th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Diamondrock Hospitality Company from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, May 12th. Finally, BidaskClub upgraded shares of Diamondrock Hospitality Company from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Diamondrock Hospitality Company has a consensus rating of “Hold” and an average price target of $11.28.

About Diamondrock Hospitality Company

DiamondRock Hospitality Company is a real estate investment trust (REIT). As of December 31, 2016, the Company owned a portfolio of 26 hotels and resorts that contains 9,472 guest rooms located in 17 different markets in North America and the United States Virgin Islands. Its business is to acquire, own, asset manage and renovate hotel properties in the United States.

Institutional Ownership by Quarter for Diamondrock Hospitality Company (NYSE:DRH)

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