Kempen Capital Management N.V. Has $1.64 Million Stake in Diamondrock Hospitality Company (DRH)
Kempen Capital Management N.V. trimmed its stake in shares of Diamondrock Hospitality Company (NYSE:DRH) by 17.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,996 shares of the real estate investment trust’s stock after selling 31,407 shares during the period. Kempen Capital Management N.V. owned about 0.07% of Diamondrock Hospitality worth $1,642,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. World Asset Management Inc lifted its holdings in shares of Diamondrock Hospitality by 0.9% during the first quarter. World Asset Management Inc now owns 12,765 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 108 shares during the last quarter. Ronald Blue & Co. LLC lifted its stake 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 acquiring an additional 116 shares in the last quarter. Amalgamated Bank lifted its stake in Diamondrock Hospitality by 0.6% in the 2nd quarter. Amalgamated Bank now owns 27,339 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 151 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake 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 acquiring an additional 320 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Diamondrock Hospitality by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 132,999 shares of the real estate investment trust’s stock worth $1,456,000 after acquiring an additional 605 shares in the last quarter.
Shares of Diamondrock Hospitality Company (NYSE DRH) traded down 0.782% on Tuesday, reaching $10.785. The company’s stock had a trading volume of 157,055 shares. The stock has a market cap of $2.16 billion, a PE ratio of 21.832 and a beta of 1.39. The company’s 50 day moving average is $10.99 and its 200-day moving average is $11.14. Diamondrock Hospitality Company has a 1-year low of $8.73 and a 1-year high of $12.08.
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, topping the consensus estimate of $0.31 by $0.01. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. The business had revenue of $243.30 million for the quarter, compared to analyst estimates of $240.73 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. Diamondrock Hospitality’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts predict that Diamondrock Hospitality Company will post $0.46 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Thursday, September 28th. Diamondrock Hospitality’s dividend payout ratio (DPR) is presently 102.04%.
In other Diamondrock Hospitality news, Director Maureen L. Mcavey sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was 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 of the company’s stock, valued at $907,536. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.
Several brokerages recently issued reports on DRH. Stifel Nicolaus reissued a “buy” rating on shares of Diamondrock Hospitality in a research note on Thursday, August 10th. Zacks Investment Research downgraded Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Robert W. Baird set a $12.00 price objective on Diamondrock Hospitality and gave the stock a “buy” rating in a research note on Sunday, September 10th. UBS AG raised Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. Finally, BidaskClub raised Diamondrock Hospitality from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Diamondrock Hospitality currently has an average rating of “Hold” and a consensus target price of $11.60.
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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