Public Employees Retirement System of Ohio lowered its position in Diamondrock Hospitality Company (NYSE:DRH) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,940 shares of the real estate investment trust’s stock after selling 1,364 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.13% of Diamondrock Hospitality worth $2,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Ronald Blue & Co. LLC grew its stake in Diamondrock Hospitality by 1.0% in the second quarter. Ronald Blue & Co. LLC now owns 11,203 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 116 shares in the last quarter. Amalgamated Bank grew its stake in Diamondrock Hospitality by 0.6% in the second quarter. Amalgamated Bank now owns 27,339 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 151 shares in the last quarter. World Asset Management Inc grew its stake in Diamondrock Hospitality by 2.2% in the second quarter. World Asset Management Inc now owns 13,047 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 282 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Diamondrock Hospitality by 0.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 54,800 shares of the real estate investment trust’s stock valued at $600,000 after purchasing an additional 320 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Diamondrock Hospitality by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 132,999 shares of the real estate investment trust’s stock valued at $1,456,000 after purchasing an additional 605 shares in the last quarter.

A number of research analysts have commented on the company. Boenning Scattergood set a $10.00 target price on Diamondrock Hospitality and gave the company a “sell” rating in a research note on Thursday, October 26th. KeyCorp reaffirmed a “hold” rating on shares of Diamondrock Hospitality in a research report on Tuesday, October 24th. Zacks Investment Research cut Diamondrock Hospitality from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $12.00 price target on shares of Diamondrock Hospitality in a research report on Thursday, September 21st. Finally, Robert W. Baird set a $12.00 price target on Diamondrock Hospitality and gave the stock a “buy” rating in a research report on Sunday, September 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $12.00.

In related news, Director Maureen L. Mcavey sold 6,000 shares of Diamondrock Hospitality stock in a transaction dated Monday, August 14th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

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Shares of Diamondrock Hospitality Company (NYSE DRH) opened at 10.73 on Tuesday. The firm has a 50 day moving average price of $10.89 and a 200-day moving average price of $11.14. Diamondrock Hospitality Company has a 12 month low of $8.73 and a 12 month high of $12.07. The firm has a market cap of $2.15 billion, a PE ratio of 21.72 and a beta of 1.40.

Diamondrock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Monday, August 7th. 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 $243.30 million during the quarter, compared to analysts’ expectations of $240.73 million. Diamondrock Hospitality had a return on equity of 5.41% and a net margin of 11.47%. Diamondrock Hospitality’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 EPS. On average, analysts predict that Diamondrock Hospitality Company will post $0.45 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Friday, September 29th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Thursday, September 28th. Diamondrock Hospitality’s payout ratio is currently 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.

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

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