Forsta AP Fonden Buys 57,400 Shares of Diamondrock Hospitality Company (DRH)
Forsta AP Fonden increased its stake in shares of Diamondrock Hospitality Company (NYSE:DRH) by 200.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,000 shares of the real estate investment trust’s stock after buying an additional 57,400 shares during the period. Forsta AP Fonden’s holdings in Diamondrock Hospitality were worth $942,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new stake in shares of Diamondrock Hospitality during the first quarter valued at about $116,000. Meadow Creek Investment Management LLC boosted its stake in shares of Diamondrock Hospitality 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 last quarter. Ronald Blue & Co. LLC boosted its stake in shares of Diamondrock Hospitality 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 last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Diamondrock Hospitality during the first quarter valued at about $134,000. Finally, OLD National Bancorp IN bought a new stake in shares of Diamondrock Hospitality during the first quarter valued at about $142,000.
Diamondrock Hospitality Company (NYSE DRH) opened at 11.62 on Monday. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 21.92 and a beta of 1.38. Diamondrock Hospitality Company has a 52 week low of $8.73 and a 52 week high of $12.07. The stock has a 50 day moving average price of $11.53 and a 200 day moving average price of $11.24.
Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $196.21 million during the quarter, compared to the consensus estimate of $192.85 million. Diamondrock Hospitality had a return on equity of 5.83% and a net margin of 12.15%. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. Equities research analysts expect that Diamondrock Hospitality Company will post $0.49 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Friday, June 30th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Wednesday, June 28th. Diamondrock Hospitality’s payout ratio is currently 94.34%.
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Several analysts have issued reports on DRH shares. Canaccord Genuity restated a “buy” rating and issued a $13.00 target price on shares of Diamondrock Hospitality in a report on Monday, May 15th. Stifel Nicolaus upgraded Diamondrock Hospitality from a “hold” rating to a “buy” rating and upped their target price for the company from $11.50 to $11.75 in a report on Monday, May 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Friday, May 12th. Finally, BidaskClub upgraded Diamondrock Hospitality from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $11.56.
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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