Smith Graham & Co. Investment Advisors LP Decreases Holdings in Diamondrock Hospitality Company (DRH)

Smith Graham & Co. Investment Advisors LP trimmed its position in Diamondrock Hospitality Company (NYSE:DRH) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 856,219 shares of the real estate investment trust’s stock after selling 8,720 shares during the quarter. Smith Graham & Co. Investment Advisors LP owned 0.43% of Diamondrock Hospitality worth $9,376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Diamondrock Hospitality by 4,611.0% during the 1st quarter. BlackRock Inc. now owns 31,087,897 shares of the real estate investment trust’s stock worth $346,632,000 after purchasing an additional 30,427,991 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Diamondrock Hospitality by 63.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,313,030 shares of the real estate investment trust’s stock worth $58,177,000 after purchasing an additional 2,058,356 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Diamondrock Hospitality by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 34,866,908 shares of the real estate investment trust’s stock worth $381,793,000 after purchasing an additional 1,694,293 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Diamondrock Hospitality by 93.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,655,396 shares of the real estate investment trust’s stock worth $18,457,000 after purchasing an additional 799,059 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Diamondrock Hospitality by 13.1% during the 2nd quarter. Prudential Financial Inc. now owns 5,809,786 shares of the real estate investment trust’s stock worth $63,617,000 after purchasing an additional 671,355 shares in the last quarter.

Several research firms have recently issued reports on DRH. Stifel Nicolaus reissued a “buy” rating on shares of Diamondrock Hospitality in a report on Thursday, August 10th. Zacks Investment Research lowered Diamondrock Hospitality from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. UBS AG raised Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a report on Friday, July 14th. BidaskClub raised Diamondrock Hospitality from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Canaccord Genuity reissued a “buy” rating and set a $13.00 target price on shares of Diamondrock Hospitality in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.00.

Diamondrock Hospitality Company (DRH) traded down 0.8453% during mid-day trading on Monday, reaching $10.6393. The company had a trading volume of 742,689 shares. Diamondrock Hospitality Company has a 12-month low of $8.73 and a 12-month high of $12.08. The stock has a market capitalization of $2.13 billion, a P/E ratio of 21.5370 and a beta of 1.39. The stock has a 50 day moving average price of $10.89 and a 200-day moving average price of $11.14.

Diamondrock Hospitality (NYSE:DRH) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The business had revenue of $243.30 million during the quarter, compared to analysts’ expectations of $240.73 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Equities analysts anticipate that Diamondrock Hospitality Company will post $0.46 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Friday, September 29th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Thursday, September 28th. Diamondrock Hospitality’s payout ratio is 102.04%.

In related news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $11.20, for a total transaction of $67,200.00. Following the completion of the transaction, the director now directly owns 81,030 shares in the company, valued at $907,536. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

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About Diamondrock Hospitality

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 (NYSE:DRH)

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