10,354 Shares in Diamondrock Hospitality Company (DRH) Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new position in Diamondrock Hospitality Company (NYSE:DRH) during the first quarter, Holdings Channel reports. The institutional investor bought 10,354 shares of the real estate investment trust’s stock, valued at approximately $116,000.

Several other institutional investors have also made changes to their positions in DRH. FMR LLC increased its position in shares of Diamondrock Hospitality Company by 18.6% in the fourth quarter. FMR LLC now owns 20,879,541 shares of the real estate investment trust’s stock worth $240,741,000 after buying an additional 3,280,597 shares during the last quarter. State Street Corp increased its position in shares of Diamondrock Hospitality Company by 1.1% in the fourth quarter. State Street Corp now owns 7,544,406 shares of the real estate investment trust’s stock worth $86,989,000 after buying an additional 84,526 shares during the last quarter. Resolution Capital Ltd increased its position in shares of Diamondrock Hospitality Company by 7.8% in the first quarter. Resolution Capital Ltd now owns 6,547,808 shares of the real estate investment trust’s stock worth $73,008,000 after buying an additional 471,562 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Diamondrock Hospitality Company by 18.4% in the first quarter. Prudential Financial Inc. now owns 5,138,431 shares of the real estate investment trust’s stock worth $57,293,000 after buying an additional 796,996 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Diamondrock Hospitality Company by 1.6% in the first quarter. Wellington Management Group LLP now owns 4,386,960 shares of the real estate investment trust’s stock worth $48,915,000 after buying an additional 71,082 shares during the last quarter.

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

Diamondrock Hospitality Company (DRH) traded up 0.09% during mid-day trading on Thursday, reaching $11.51. 829,530 shares of the company’s stock traded hands. Diamondrock Hospitality Company has a one year low of $8.57 and a one year high of $12.00. The firm’s 50-day moving average price is $11.16 and its 200 day moving average price is $11.21. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 21.72 and a beta of 1.35.

Diamondrock Hospitality Company (NYSE:DRH) last released its quarterly earnings data on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $196.21 million during the quarter, compared to analysts’ expectations of $192.85 million. Diamondrock Hospitality Company had a net margin of 12.15% and a return on equity of 5.83%. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. On average, equities analysts forecast that Diamondrock Hospitality Company will post $0.49 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th will be given a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.50 annualized dividend and a yield of 4.35%. Diamondrock Hospitality Company’s dividend payout ratio (DPR) is 94.34%.

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A number of research firms recently commented on DRH. Stifel Nicolaus raised shares of Diamondrock Hospitality Company from a “hold” rating to a “buy” rating and lifted their price target for the stock 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 raised shares of Diamondrock Hospitality Company from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Thursday, June 8th. Boenning Scattergood reissued an “underperform” rating on shares of Diamondrock Hospitality Company in a report on Wednesday, April 12th. Evercore ISI cut shares of Diamondrock Hospitality Company from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. Finally, Canaccord Genuity reissued a “buy” rating and set a $13.00 target price on shares of Diamondrock Hospitality Company in a report on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $11.25.

Diamondrock Hospitality Company 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.

Want to see what other hedge funds are holding DRH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diamondrock Hospitality Company (NYSE:DRH).

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