DiamondRock Hospitality (NYSE:DRH) Shares Bought by Long Pond Capital LP

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Long Pond Capital LP boosted its holdings in shares of DiamondRock Hospitality (NYSE:DRH) by 12.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,213,443 shares of the real estate investment trust’s stock after acquiring an additional 350,000 shares during the period. DiamondRock Hospitality comprises 1.0% of Long Pond Capital LP’s portfolio, making the stock its 24th largest holding. Long Pond Capital LP owned approximately 1.61% of DiamondRock Hospitality worth $33,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Municipal Employees Retirement System of Michigan raised its position 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 worth $623,000 after acquiring an additional 1,040 shares during the last quarter. Bank of Montreal Can raised its position 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 worth $511,000 after acquiring an additional 1,072 shares during the last quarter. Eii Capital Management Inc. raised its position 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 worth $939,000 after acquiring an additional 1,305 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position 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 worth $847,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. raised its position in DiamondRock Hospitality by 2.8% during the first quarter. Piedmont Investment Advisors Inc. now owns 50,873 shares of the real estate investment trust’s stock worth $551,000 after acquiring an additional 1,405 shares during the last quarter.

NYSE:DRH opened at $9.88 on Friday. The firm has a 50 day simple moving average of $9.62 and a 200-day simple moving average of $10.31. 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 firm has a market cap of $2.02 billion, a PE ratio of 9.69, a P/E/G ratio of 1.96 and a beta of 1.37. DiamondRock Hospitality has a 1-year low of $8.69 and a 1-year high of $12.00.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $257.92 million during the quarter, compared to analyst estimates of $253.67 million. DiamondRock Hospitality had a net margin of 10.32% and a return on equity of 5.00%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share. As a group, sell-side analysts expect that DiamondRock Hospitality will post 1.03 earnings per share for the current fiscal year.

A number of brokerages have issued reports on DRH. Wells Fargo & Co restated a “market perform” rating and set a $9.50 target price on shares of DiamondRock Hospitality in a research report on Monday, August 19th. Zacks Investment Research cut shares of DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 18th. ValuEngine cut shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. TheStreet cut shares of DiamondRock Hospitality from a “b-” rating to a “c+” rating in a research report on Thursday, August 1st. Finally, Barclays restated a “hold” rating and set a $10.00 target price on shares of DiamondRock Hospitality in a research report on Tuesday, August 13th. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $9.64.

In other news, Director Maureen L. Mcavey sold 8,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 91,688 shares of the company’s stock, valued at $949,887.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.

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 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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