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

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Redmond Asset Management LLC boosted its position in DiamondRock Hospitality (NYSE:DRH) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 owned approximately 0.07% of DiamondRock Hospitality worth $1,427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC grew its position in DiamondRock Hospitality by 1,924.1% in the 1st quarter. Quadrant Capital Group LLC now owns 6,720 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 6,388 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in DiamondRock Hospitality in the 2nd quarter worth $110,000. WINTON GROUP Ltd acquired a new stake in DiamondRock Hospitality in the 2nd quarter worth $112,000. Raymond James & Associates grew its position in DiamondRock Hospitality by 20.1% in the 4th quarter. Raymond James & Associates now owns 16,161 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 2,700 shares during the last quarter. Finally, CWM Advisors LLC grew its position in DiamondRock Hospitality by 16.6% in the 2nd quarter. CWM Advisors LLC now owns 16,510 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 2,350 shares during the last quarter.

In related news, Director Maureen L. Mcavey sold 8,000 shares of DiamondRock Hospitality stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $10.36, for a total transaction of $82,880.00. Following the completion of the transaction, the director now directly owns 91,688 shares of the company’s stock, valued at approximately $949,887.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Several analysts have issued reports on DRH shares. Zacks Investment Research lowered shares of DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 18th. ValuEngine downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Wells Fargo & Co raised 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. TheStreet downgraded shares of DiamondRock Hospitality from a “b-” rating to a “c+” rating in a report on Thursday, August 1st. Finally, Barclays reaffirmed a “hold” rating and set a $10.00 price objective on shares of DiamondRock Hospitality in a report on Tuesday. Four investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $9.79.

Shares of NYSE:DRH traded down $0.05 during midday trading on Thursday, reaching $9.16. 77,540 shares of the company’s stock were exchanged, compared to its average volume of 1,658,674. The business has a 50 day moving average price of $9.98. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 1.83 and a beta of 1.38. DiamondRock Hospitality has a 12 month low of $8.69 and a 12 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.

DiamondRock Hospitality (NYSE:DRH) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $257.92 million during the quarter, compared to the consensus estimate of $253.67 million. DiamondRock Hospitality had a net margin of 10.32% and a return on equity of 5.00%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. As a group, equities research analysts expect that DiamondRock Hospitality will post 1.03 EPS for the current 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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