DiamondRock Hospitality (NYSE:DRH) posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.14), Fidelity Earnings reports. The business had revenue of $202.38 million during the quarter, compared to the consensus estimate of $194.62 million. DiamondRock Hospitality had a return on equity of 4.90% and a net margin of 10.44%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 earnings per share. DiamondRock Hospitality updated its FY19 guidance to $1.00 to $1.04 EPS.
DRH stock opened at $9.91 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.54 and a current ratio of 1.54. DiamondRock Hospitality has a twelve month low of $8.69 and a twelve month high of $12.99. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 1.98 and a beta of 1.43.
A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in shares of DiamondRock Hospitality by 3.9% during the third quarter. Bank of New York Mellon Corp now owns 3,215,605 shares of the real estate investment trust’s stock valued at $37,526,000 after buying an additional 120,150 shares during the period. Standard Life Aberdeen plc increased its stake in shares of DiamondRock Hospitality by 48.4% during the third quarter. Standard Life Aberdeen plc now owns 833,349 shares of the real estate investment trust’s stock valued at $9,721,000 after buying an additional 271,629 shares during the period. JPMorgan Chase & Co. increased its stake in shares of DiamondRock Hospitality by 5.9% during the third quarter. JPMorgan Chase & Co. now owns 3,997,125 shares of the real estate investment trust’s stock valued at $46,647,000 after buying an additional 222,009 shares during the period. Macquarie Group Ltd. increased its stake in shares of DiamondRock Hospitality by 168.4% during the third quarter. Macquarie Group Ltd. now owns 112,200 shares of the real estate investment trust’s stock valued at $1,309,000 after buying an additional 70,400 shares during the period. Finally, Morgan Stanley increased its stake in shares of DiamondRock Hospitality by 24.9% during the third quarter. Morgan Stanley now owns 1,191,065 shares of the real estate investment trust’s stock valued at $13,900,000 after buying an additional 237,286 shares during the period.
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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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