DiamondRock Hospitality Co. (DRH) To Go Ex-Dividend on December 28th

DiamondRock Hospitality Co. (DRH) To Go Ex-Dividend on December 28th

DiamondRock Hospitality Co. (NYSE:DRH) announced a quarterly dividend on Friday, December 16th. Stockholders of record on Friday, December 30th will be paid a dividend of 0.125 per share by the real estate investment trust on Thursday, January 12th. This represents a $0.50 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Wednesday, December 28th.

Shares of DiamondRock Hospitality (NYSE:DRH) opened at 11.52 on Tuesday. The stock has a 50 day moving average of $10.62 and a 200 day moving average of $9.80. DiamondRock Hospitality has a 12 month low of $7.28 and a 12 month high of $11.61. The stock has a market cap of $2.31 billion, a PE ratio of 19.86 and a beta of 1.30.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Wednesday, November 9th. The real estate investment trust reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.01. The business earned $220.24 million during the quarter, compared to analysts’ expectations of $225.08 million. DiamondRock Hospitality had a net margin of 12.62% and a return on equity of 6.37%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. On average, equities analysts anticipate that DiamondRock Hospitality will post $0.56 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the stock. Nomura assumed coverage on shares of DiamondRock Hospitality in a research report on Wednesday, December 14th. They set a “neutral” rating and a $12.00 price objective for the company. Zacks Investment Research upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Canaccord Genuity restated a “buy” rating and set a $12.00 price objective on shares of DiamondRock Hospitality in a research report on Wednesday, November 9th. Instinet assumed coverage on shares of DiamondRock Hospitality in a research report on Wednesday, December 14th. They set a “neutral” rating and a $12.00 price objective for the company. Finally, Barclays PLC set a $11.00 price objective on shares of DiamondRock Hospitality and gave the stock a “buy” rating in a research report on Thursday, November 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. DiamondRock Hospitality presently has an average rating of “Hold” and an average price target of $10.92.

In other news, CFO Sean M. Mahoney sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $11.45, for a total value of $343,500.00. Following the completion of the transaction, the chief financial officer now owns 417,744 shares of the company’s stock, valued at $4,783,168.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in shares of DiamondRock Hospitality during the second quarter worth about $119,000. US Bancorp DE increased its position in shares of DiamondRock Hospitality by 1.1% in the second quarter. US Bancorp DE now owns 19,584 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 217 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of DiamondRock Hospitality by 99.3% in the second quarter. Cubist Systematic Strategies LLC now owns 20,112 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 10,021 shares in the last quarter. KCG Holdings Inc. increased its position in shares of DiamondRock Hospitality by 28.0% in the second quarter. KCG Holdings Inc. now owns 21,941 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 4,804 shares in the last quarter. Finally, Nuveen Fund Advisors LLC purchased a new position in shares of DiamondRock Hospitality during the second quarter worth about $251,000.

About DiamondRock Hospitality

DiamondRock Hospitality Company is a lodging-focused Maryland corporation operating as a real estate investment trust (REIT). The Company owns a portfolio of approximately 30 hotels and resorts throughout North America and the United States Virgin Islands that consists of over 10,925 guest rooms. Its primary business is to acquire, own, asset manage and renovate full-service hotel properties in the United States.

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