DiamondRock Hospitality Company(NYSE:DRH) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 5, 2016. Company reported revenue of $256.66M. Analysts estimated a revenue of $257.83M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.32.
In a different note, On Jul 19, 2016, Deutsche Bank said it Maintains its rating on DiamondRock Hospitality Company. In the research note, the firm Lowers the price-target to $11.00 per share. The shares have been rated ‘Hold’ by the firm.
DiamondRock Hospitality Company (DRH) shares turned negative on Wednesdays trading session with the shares closing down -0.14 points or -1.37% at a volume of 16,88,956. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.25. The peak price level was also seen at $10.25 while the days lowest was $9.95. Finally the shares closed at $10.07. The 52-week high of the shares is $12.84 while the 52-week low is $7.28. According to the latest information available, the market cap of the company is $2,023 M.
Several Insider Transactions has been reported to the SEC. On Mar 26, 2015, William J Tennis (EVP & General Counsel) sold 100 shares at $14.95 per share price.
DiamondRock Hospitality Company is a lodging focused Maryland corporation operating as a real estate investment trust (REIT). As of December 31 2014 the Company owned a portfolio of 27 hotels and resorts throughout North America and the United States Virgin Islands that consists of 10552 guest rooms. The Company conducts its business through a traditional umbrella partnership REIT or umbrella partnership real estate investment trust (UPREIT) in which the Company’s hotels are owned by subsidiaries of its operating partnership DiamondRock Hospitality Limited Partnership. The Company is the sole general partner of its operating partnership and owns either directly or indirectly all of the limited partnership units of its operating partnership. The Company leases all of its domestic hotels to REIT subsidiary or TRS lessees. In turn the Company’s TRS lessees must engage a third-party management company to manage the hotels.