Diamondrock Hospitality Company (DRH) Shares Sold by Comerica Bank
Comerica Bank decreased its position in shares of Diamondrock Hospitality Company (NYSE:DRH) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,546 shares of the real estate investment trust’s stock after selling 11,820 shares during the period. Comerica Bank owned 0.10% of Diamondrock Hospitality worth $2,414,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in Diamondrock Hospitality during the 1st quarter worth $116,000. Meadow Creek Investment Management LLC lifted its position in Diamondrock Hospitality by 6.3% during 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 acquiring an additional 644 shares during the last quarter. Ronald Blue & Co. LLC lifted its position in Diamondrock Hospitality by 4.6% during the 1st quarter. Ronald Blue & Co. LLC now owns 11,087 shares of the real estate investment trust’s stock worth $124,000 after acquiring an additional 483 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Diamondrock Hospitality during the 1st quarter worth $134,000. Finally, OLD National Bancorp IN acquired a new position in Diamondrock Hospitality during the 1st quarter worth $142,000.
In related news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $11.20, for a total transaction of $67,200.00. Following the transaction, the director now owns 81,030 shares in the company, valued at approximately $907,536. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.
Diamondrock Hospitality Company (NYSE:DRH) opened at 10.68 on Thursday. The stock’s 50 day moving average is $11.18 and its 200-day moving average is $11.16. Diamondrock Hospitality Company has a 12 month low of $8.73 and a 12 month high of $12.07. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 21.62 and a beta of 1.39.
Diamondrock Hospitality (NYSE:DRH) last released its earnings results on Monday, August 7th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. The company had revenue of $243.30 million for the quarter, compared to the consensus estimate of $240.73 million. During the same quarter in the previous year, the company earned $0.31 EPS. Diamondrock Hospitality’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Diamondrock Hospitality Company will post $0.46 earnings per share for the current fiscal year.
A number of research firms have weighed in on DRH. Zacks Investment Research lowered shares of Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Canaccord Genuity reissued a “buy” rating and set a $13.00 target price on shares of Diamondrock Hospitality in a research report on Monday, August 7th. Raymond James Financial, Inc. raised shares of Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 target price for the company in a research report on Friday, July 14th. Finally, BidaskClub raised shares of Diamondrock Hospitality from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $11.56.
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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.
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