Redmond Asset Management LLC Has $1.43 Million Stake in DiamondRock Hospitality (NYSE:DRH)

Redmond Asset Management LLC lifted its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,004 shares of the real estate investment trust’s stock after buying an additional 1,942 shares during the quarter. Redmond Asset Management LLC’s holdings in DiamondRock Hospitality were worth $1,427,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Municipal Employees Retirement System of Michigan grew its holdings in DiamondRock Hospitality by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 60,240 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 1,040 shares during the period. Bank of Montreal Can grew its holdings in DiamondRock Hospitality by 2.3% during the first quarter. Bank of Montreal Can now owns 47,249 shares of the real estate investment trust’s stock valued at $511,000 after purchasing an additional 1,072 shares during the period. Eqis Capital Management Inc. grew its holdings in DiamondRock Hospitality by 7.9% during the first quarter. Eqis Capital Management Inc. now owns 17,211 shares of the real estate investment trust’s stock valued at $186,000 after purchasing an additional 1,257 shares during the period. Eii Capital Management Inc. grew its holdings in DiamondRock Hospitality by 1.5% during the second quarter. Eii Capital Management Inc. now owns 90,775 shares of the real estate investment trust’s stock valued at $939,000 after purchasing an additional 1,305 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in DiamondRock Hospitality by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 81,927 shares of the real estate investment trust’s stock valued at $847,000 after purchasing an additional 1,400 shares during the period.

In other news, Director Maureen L. Mcavey sold 8,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $10.36, for a total value of $82,880.00. Following the sale, the director now owns 91,688 shares of the company’s stock, valued at $949,887.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.



DRH has been the subject of a number of analyst reports. Zacks Investment Research cut shares of DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 18th. Wells Fargo & Co upgraded shares of DiamondRock Hospitality from an “underperform” rating to a “market perform” rating and set a $10.50 price objective for the company in a report on Wednesday, June 26th. Barclays restated a “hold” rating and set a $10.00 price objective on shares of DiamondRock Hospitality in a report on Tuesday. ValuEngine cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, TheStreet cut shares of DiamondRock Hospitality from a “b-” rating to a “c+” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $9.79.

Shares of DiamondRock Hospitality stock traded down $0.05 on Thursday, hitting $9.16. The company had a trading volume of 77,540 shares, compared to its average volume of 1,658,674. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 1.83 and a beta of 1.38. DiamondRock Hospitality has a twelve month low of $8.69 and a twelve month high of $12.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.49 and a quick ratio of 1.49. The company has a 50-day simple moving average of $9.98.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $257.92 million during the quarter, compared to analysts’ expectations of $253.67 million. DiamondRock Hospitality had a net margin of 10.32% and a return on equity of 5.00%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. As a group, equities analysts predict that DiamondRock Hospitality will post 1.03 EPS for the current fiscal year.

DiamondRock Hospitality Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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

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