Spirit Of America Management Corpny buys $2,231,658 stake in DiamondRock Hospitality Company (DRH)

DiamondRock Hospitality Company (DRH) : Spirit Of America Management Corpny scooped up 2,500 additional shares in DiamondRock Hospitality Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 243,100 shares of DiamondRock Hospitality Company which is valued at $2,231,658.DiamondRock Hospitality Company makes up approximately 0.30% of Spirit Of America Management Corpny’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in DRH in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 196 shares of DiamondRock Hospitality Company which is valued at $1,819.Legal General Group Plc boosted its stake in DRH in the latest quarter, The investment management firm added 181,048 additional shares and now holds a total of 701,716 shares of DiamondRock Hospitality Company which is valued at $6,378,598. DiamondRock Hospitality Company makes up approx 0.01% of Legal General Group Plc’s portfolio. Pensionfund Sabic added DRH to its portfolio by purchasing 57,000 company shares during the most recent quarter which is valued at $518,130. DiamondRock Hospitality Company makes up approx 0.16% of Pensionfund Sabic’s portfolio.Nisa Investment Advisors boosted its stake in DRH in the latest quarter, The investment management firm added 10,000 additional shares and now holds a total of 114,549 shares of DiamondRock Hospitality Company which is valued at $1,041,250. DiamondRock Hospitality Company makes up approx 0.01% of Nisa Investment Advisors’s portfolio. Eqis Capital Management added DRH to its portfolio by purchasing 14,929 company shares during the most recent quarter which is valued at $133,764. DiamondRock Hospitality Company makes up approx 0.01% of Eqis Capital Management’s portfolio.

DiamondRock Hospitality Company closed down -0.1 points or -1.08% at $9.18 with 22,48,243 shares getting traded on Friday. Post opening the session at $9.31, the shares hit an intraday low of $9.15 and an intraday high of $9.3401 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, DiamondRock Hospitality Company reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 5, 2016. Analyst had a consensus of $0.32. The company had revenue of $256.70 million for the quarter, compared to analysts expectations of $257.73 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on DiamondRock Hospitality Company. DiamondRock Hospitality Company was Downgraded by Morgan Stanley to ” Underweight” on Sep 26, 2016.

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.

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