DiamondRock Hospitality (DRH) Shares Bought by Honeywell International Inc.

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Honeywell International Inc. lifted its stake in shares of DiamondRock Hospitality (NYSE:DRH) by 12.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,885 shares of the real estate investment trust’s stock after purchasing an additional 20,310 shares during the period. Honeywell International Inc.’s holdings in DiamondRock Hospitality were worth $2,332,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its stake in shares of DiamondRock Hospitality by 5.6% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 80,100 shares of the real estate investment trust’s stock worth $836,000 after purchasing an additional 4,280 shares during the last quarter. Natixis increased its stake in shares of DiamondRock Hospitality by 43.0% during the 1st quarter. Natixis now owns 14,990 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 4,505 shares during the last quarter. Comerica Bank increased its stake in shares of DiamondRock Hospitality by 2.5% during the 1st quarter. Comerica Bank now owns 210,398 shares of the real estate investment trust’s stock worth $2,331,000 after purchasing an additional 5,128 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of DiamondRock Hospitality by 2.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 201,011 shares of the real estate investment trust’s stock worth $2,468,000 after purchasing an additional 5,247 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of DiamondRock Hospitality by 3.3% during the 2nd quarter. Sei Investments Co. now owns 167,429 shares of the real estate investment trust’s stock worth $2,056,000 after purchasing an additional 5,291 shares during the last quarter.

DRH opened at $11.73 on Tuesday. The company has a market capitalization of $2.46 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 3.37 and a beta of 1.39. DiamondRock Hospitality has a 12 month low of $9.87 and a 12 month high of $12.99. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.18). The business had revenue of $236.70 million during the quarter, compared to the consensus estimate of $241.52 million. DiamondRock Hospitality had a return on equity of 4.26% and a net margin of 9.26%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. equities analysts expect that DiamondRock Hospitality will post 1.01 earnings per share for the current year.

In other DiamondRock Hospitality news, insider Briony R. Quinn sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $12.58, for a total value of $125,800.00. Following the completion of the transaction, the insider now directly owns 83,172 shares of the company’s stock, valued at approximately $1,046,303.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William J. Tennis sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $12.79, for a total transaction of $383,700.00. Following the completion of the transaction, the executive vice president now directly owns 252,363 shares of the company’s stock, valued at $3,227,722.77. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on DRH shares. TheStreet lowered shares of DiamondRock Hospitality from a “b-” rating to a “c+” rating in a research note on Thursday, May 3rd. Boenning Scattergood set a $10.00 price objective on shares of DiamondRock Hospitality and gave the stock a “sell” rating in a report on Monday, May 7th. Morgan Stanley raised their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, May 23rd. Stifel Nicolaus raised their price objective on shares of DiamondRock Hospitality from $12.00 to $13.25 and gave the stock a “buy” rating in a report on Friday, May 25th. Finally, ValuEngine raised shares of DiamondRock Hospitality from a “hold” rating to a “buy” rating in a report on Tuesday, May 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $12.32.

DiamondRock Hospitality Company 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 30 premium quality hotels with over 9,900 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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