First Trust Advisors LP lowered its position in Diamondrock Hospitality Company (NYSE:DRH) by 15.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 253,738 shares of the real estate investment trust’s stock after selling 45,693 shares during the period. First Trust Advisors LP owned about 0.13% of Diamondrock Hospitality worth $2,778,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. World Asset Management Inc boosted its holdings in Diamondrock Hospitality by 0.9% in the 1st quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 108 shares during the period. Ronald Blue & Co. LLC boosted its holdings in Diamondrock Hospitality by 1.0% in the 2nd quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 116 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in Diamondrock Hospitality by 0.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 54,800 shares of the real estate investment trust’s stock worth $600,000 after buying an additional 320 shares during the period. Meadow Creek Investment Management LLC boosted its holdings in Diamondrock Hospitality by 6.3% in the 1st quarter. Meadow Creek Investment Management LLC now owns 10,892 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 644 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Diamondrock Hospitality by 5.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,706 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 741 shares during the period.

Shares of Diamondrock Hospitality Company (DRH) opened at 10.68 on Thursday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 21.62 and a beta of 1.39. The company has a 50-day moving average of $11.18 and a 200-day moving average of $11.16. Diamondrock Hospitality Company has a 52-week low of $8.73 and a 52-week high of $12.07.

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

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Several research analysts have commented on the stock. Zacks Investment Research raised shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Monday, July 10th. Canaccord Genuity reissued a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality in a report on Monday, May 15th. Stifel Nicolaus raised shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating and increased their price objective 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. Finally, BidaskClub raised shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. Diamondrock Hospitality has an average rating of “Hold” and an average price target of $11.56.

In other news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $11.20, for a total value of $67,200.00. Following the sale, the director now directly owns 81,030 shares of the company’s stock, valued at approximately $907,536. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Diamondrock Hospitality Company Profile

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

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