Citadel Advisors LLC lowered its position in shares of Diamondrock Hospitality Company (NYSE:DRH) by 92.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,297 shares of the real estate investment trust’s stock after selling 659,416 shares during the quarter. Citadel Advisors LLC’s holdings in Diamondrock Hospitality were worth $573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Parametric Portfolio Associates LLC raised its stake in Diamondrock Hospitality by 7.9% during the second quarter. Parametric Portfolio Associates LLC now owns 872,378 shares of the real estate investment trust’s stock valued at $9,553,000 after buying an additional 64,228 shares in the last quarter. FMR LLC raised its stake in Diamondrock Hospitality by 2.2% during the second quarter. FMR LLC now owns 21,377,145 shares of the real estate investment trust’s stock valued at $234,080,000 after buying an additional 453,851 shares in the last quarter. Vanguard Group Inc. raised its stake in Diamondrock Hospitality by 5.1% during the second quarter. Vanguard Group Inc. now owns 34,866,908 shares of the real estate investment trust’s stock valued at $381,793,000 after buying an additional 1,694,293 shares in the last quarter. Northern Trust Corp raised its stake in Diamondrock Hospitality by 7.6% during the second quarter. Northern Trust Corp now owns 6,654,235 shares of the real estate investment trust’s stock valued at $72,864,000 after buying an additional 472,117 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Diamondrock Hospitality by 6.5% during the second quarter. Citigroup Inc. now owns 715,913 shares of the real estate investment trust’s stock valued at $7,839,000 after buying an additional 43,905 shares in the last quarter.

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In other Diamondrock Hospitality news, Director Maureen L. Mcavey sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $11.20, for a total transaction of $67,200.00. Following the completion of the transaction, the director now owns 81,030 shares in the company, valued at $907,536. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Several brokerages have issued reports on DRH. ING Group upgraded Diamondrock Hospitality to an “outperform” rating and set a $13.00 price objective on the stock in a research note on Monday, July 17th. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and set a $13.00 price objective on shares of Diamondrock Hospitality in a research note on Monday, August 7th. BidaskClub cut Diamondrock Hospitality from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Raymond James Financial, Inc. upgraded Diamondrock Hospitality from a “market perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research note on Friday, July 14th. Finally, UBS AG upgraded Diamondrock Hospitality from a “market perform” rating to an “outperform” rating in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.09.

Shares of Diamondrock Hospitality Company (NYSE DRH) opened at 10.96 on Monday. The firm has a market capitalization of $2.20 billion, a PE ratio of 22.19 and a beta of 1.40. Diamondrock Hospitality Company has a 12 month low of $8.73 and a 12 month high of $12.07. The stock’s 50 day moving average price is $10.82 and its 200-day moving average price is $11.13.

Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $243.30 million during the quarter, compared to analysts’ expectations of $240.73 million. Diamondrock Hospitality had a net margin of 11.47% and a return on equity of 5.41%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. On average, equities analysts anticipate 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 paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Thursday, September 28th. Diamondrock Hospitality’s dividend payout ratio is 102.04%.

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.

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

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