California Public Employees Retirement System grew its stake in DiamondRock Hospitality (NYSE:DRH) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 657,085 shares of the real estate investment trust’s stock after acquiring an additional 47,809 shares during the quarter. California Public Employees Retirement System owned about 0.33% of DiamondRock Hospitality worth $7,418,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Resolution Capital Ltd grew its stake in DiamondRock Hospitality by 16.1% during the 4th quarter. Resolution Capital Ltd now owns 8,397,378 shares of the real estate investment trust’s stock valued at $94,806,000 after purchasing an additional 1,164,594 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of DiamondRock Hospitality by 3.5% in the 3rd quarter. Prudential Financial Inc. now owns 6,010,323 shares of the real estate investment trust’s stock valued at $65,813,000 after buying an additional 200,537 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of DiamondRock Hospitality by 19.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,340,041 shares of the real estate investment trust’s stock valued at $36,640,000 after buying an additional 538,429 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of DiamondRock Hospitality by 10.6% in the 4th quarter. Victory Capital Management Inc. now owns 3,306,571 shares of the real estate investment trust’s stock valued at $37,331,000 after buying an additional 316,999 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in DiamondRock Hospitality by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,067,731 shares of the real estate investment trust’s stock worth $33,592,000 after purchasing an additional 95,993 shares during the period.
Shares of DiamondRock Hospitality (NYSE DRH) traded up $0.03 during mid-day trading on Wednesday, hitting $10.63. The company’s stock had a trading volume of 1,316,233 shares, compared to its average volume of 1,965,006. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.35 and a current ratio of 2.35. DiamondRock Hospitality has a 12 month low of $9.87 and a 12 month high of $12.11. The stock has a market capitalization of $2,139.74, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 2.13 and a beta of 1.42.
DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Monday, February 26th. The real estate investment trust reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.02. DiamondRock Hospitality had a net margin of 10.56% and a return on equity of 5.02%. The firm had revenue of $207.04 million during the quarter, compared to the consensus estimate of $206.36 million. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. research analysts forecast that DiamondRock Hospitality will post 1 EPS for the current fiscal year.
In related news, insider Mark W. Brugger purchased 10,000 shares of DiamondRock Hospitality stock in a transaction dated Friday, March 2nd. The stock was bought at an average cost of $9.98 per share, for a total transaction of $99,800.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.
A number of equities analysts recently weighed in on the company. TheStreet raised DiamondRock Hospitality from a “c+” rating to a “b-” rating in a report on Friday, December 29th. Boenning Scattergood upgraded DiamondRock Hospitality from an “under perform” rating to a “neutral” rating in a research note on Friday, December 8th. Morgan Stanley dropped their price target on DiamondRock Hospitality from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Evercore ISI upgraded DiamondRock Hospitality from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Finally, Zacks Investment Research lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.78.
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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