CNA Financial Corp continued to hold its position in shares of Diamondrock Hospitality Company (NYSE:DRH) during the first quarter, Holdings Channel reports. The firm owned 33,571 shares of the real estate investment trust’s stock at the end of the first quarter. CNA Financial Corp’s holdings in Diamondrock Hospitality Company were worth $374,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Teachers Advisors LLC increased its position in Diamondrock Hospitality Company by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 1,430,574 shares of the real estate investment trust’s stock worth $16,495,000 after buying an additional 16,988 shares during the period. Daiwa Securities Group Inc. increased its position in Diamondrock Hospitality Company by 35.3% in the first quarter. Daiwa Securities Group Inc. now owns 15,342 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 4,000 shares during the period. Putnam Investments LLC purchased a new position in Diamondrock Hospitality Company during the fourth quarter worth $1,177,000. Vident Investment Advisory LLC increased its position in Diamondrock Hospitality Company by 4.4% in the fourth quarter. Vident Investment Advisory LLC now owns 239,354 shares of the real estate investment trust’s stock worth $2,760,000 after buying an additional 10,013 shares during the period. Finally, FMR LLC increased its position in 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 period.
Diamondrock Hospitality Company (DRH) traded up 0.17% during midday trading on Friday, hitting $11.49. The stock had a trading volume of 989,457 shares. The stock has a market capitalization of $2.30 billion, a PE ratio of 21.68 and a beta of 1.35. Diamondrock Hospitality Company has a 1-year low of $8.57 and a 1-year high of $12.00. The stock’s 50-day moving average is $11.16 and its 200-day moving average is $11.21.
Diamondrock Hospitality Company (NYSE:DRH) last announced its earnings results on Friday, May 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Diamondrock Hospitality Company had a return on equity of 5.83% and a net margin of 12.15%. The company had revenue of $196.21 million for the quarter, compared to analysts’ expectations of $192.85 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Diamondrock Hospitality Company’s quarterly revenue was down 7.9% on a year-over-year basis. On average, equities research analysts anticipate that Diamondrock Hospitality Company will post $0.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.36%. Diamondrock Hospitality Company’s dividend payout ratio is presently 94.34%.
A number of research firms have weighed in on DRH. Zacks Investment Research downgraded Diamondrock Hospitality Company from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price target on shares of Diamondrock Hospitality Company in a research report on Friday, May 5th. Boenning Scattergood reaffirmed an “underperform” rating and set a $10.00 price target on shares of Diamondrock Hospitality Company in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) began coverage on Diamondrock Hospitality Company in a research report on Monday, April 10th. They set a “neutral” rating and a $11.00 price target for the company. Finally, BidaskClub raised Diamondrock Hospitality Company from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target 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.
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