OLD National Bancorp IN lowered its stake in Diamondrock Hospitality Company (NYSE:DRH) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,096 shares of the real estate investment trust’s stock after selling 1,616 shares during the period. OLD National Bancorp IN’s holdings in Diamondrock Hospitality were worth $122,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. BlackRock Inc. increased its stake in Diamondrock Hospitality by 4,611.0% in the first quarter. BlackRock Inc. now owns 31,087,897 shares of the real estate investment trust’s stock valued at $346,632,000 after buying an additional 30,427,991 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Diamondrock Hospitality by 0.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 146,014 shares of the real estate investment trust’s stock valued at $1,628,000 after buying an additional 1,130 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Diamondrock Hospitality by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,106,698 shares of the real estate investment trust’s stock valued at $23,490,000 after buying an additional 100,596 shares in the last quarter. Vanguard Group Inc. increased its stake in Diamondrock Hospitality by 2.8% in the first quarter. Vanguard Group Inc. now owns 33,172,615 shares of the real estate investment trust’s stock valued at $369,874,000 after buying an additional 895,263 shares in the last quarter. Finally, Comerica Bank increased its stake in Diamondrock Hospitality by 4.2% in the first quarter. Comerica Bank now owns 221,366 shares of the real estate investment trust’s stock valued at $2,543,000 after buying an additional 8,876 shares in the last quarter.
Diamondrock Hospitality Company (NYSE:DRH) traded down 2.19% during mid-day trading on Friday, hitting $10.74. 3,309,180 shares of the stock traded hands. Diamondrock Hospitality Company has a 1-year low of $8.73 and a 1-year high of $12.08. The company has a 50-day moving average of $11.41 and a 200 day moving average of $11.21. The firm has a market capitalization of $2.15 billion, a P/E ratio of 21.74 and a beta of 1.38.
Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The company had revenue of $243.30 million during the quarter, compared to analyst estimates of $240.73 million. During the same quarter last year, the firm posted $0.31 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Diamondrock Hospitality Company will post $0.46 EPS for the current year.
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Several equities research analysts recently commented on DRH shares. Zacks Investment Research upgraded shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Monday, July 10th. BidaskClub downgraded shares of Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, Canaccord Genuity restated a “buy” rating and issued a $13.00 price target on shares of Diamondrock Hospitality in a research report on Monday, August 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $11.56.
In related news, Director Maureen L. Mcavey sold 6,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $11.20, for a total value of $67,200.00. Following the completion of the sale, the director now owns 81,030 shares of the company’s stock, valued at $907,536. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.
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.
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