DiamondRock Hospitality Company (DRH) reported quarterly earnings results on Friday, May-6-2016. The company said it had a profit of $0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.18. The company posted revenue of $213.00 million in the period, compared to analysts expectations of $218.55 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.
Many Wall Street Analysts have commented on DiamondRock Hospitality Company. DiamondRock Hospitality Company was Resumed by Stifel to “Hold” on Mar 29, 2016.
DiamondRock Hospitality Company opened for trading at $9.09 and hit $9.26 on the upside on Wednesday, eventually ending the session at $9.25, with a gain of 0.76% or 0.07 points. The heightened volatility saw the trading volume jump to 41,91,603 shares. Company has a market cap of $1,857 M.
In a different news, 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.