Shares of DiamondRock Hospitality Company (NYSE:DRH) ended Wednesday session in green amid volatile trading. The shares closed up +0.02 points or 0.20% at $9.90 with 1.95 million shares getting traded. Post opening the session at $9.89, the shares hit an intraday low of $9.71 and an intraday high of $10.01 and the price vacillated in this range throughout the day. The company has a market cap of $1.94 billion and the numbers of outstanding shares have been calculated to be 200.89 million shares.
DiamondRock Hospitality Company (DRH) on Aug. 5, 2016 announced results of operations for the quarter ended June 30, 2016.
Second Quarter 2016 Highlights
- Net Income: Net income was $44.2 million and earnings per diluted share was $0.22.
- Comparable RevPAR: RevPAR was $197.52, a 0.8% increase from the comparable period of 2015.
- Comparable Hotel Adjusted EBITDA Margin: Hotel Adjusted EBITDA margin was 35.85%, an increase of 11 basis points from the comparable period of 2015.
- Adjusted EBITDA: Adjusted EBITDA was $84.1 million, an increase of 3.7% from 2015.
- Adjusted FFO: Adjusted FFO was $63.1 million and Adjusted FFO per diluted share was $0.31.
- Credit Facility: The Company amended its senior unsecured revolving credit facility, increasing the capacity to $300 million, decreasing pricing and extending the maturity date to May 2020.
- Term Loan: The Company closed on a new five-year $100 million senior unsecured term loan.
- Courtyard Fifth Avenue Loan Repayment: The Company repaid the $48.1 million mortgage loan secured by the Courtyard Fifth Avenue.
- Hotel Dispositions: The Company sold the Orlando Airport Marriott for proceeds of approximately $67 million and the Hilton Minneapolis for proceeds of approximately $143 million.
- Dividends: The Company declared a dividend of $0.125 per share during the second quarter, which was paid on July 12, 2016.
Shares of Franklin Resources, Inc. (NYSE:BEN) ended Wednesday session in green amid volatile trading. The shares closed up +0.35 points or 0.97% at $36.47 with 1.85 million shares getting traded. Post opening the session at $36.08, the shares hit an intraday low of $36.04 and an intraday high of $36.49 and the price vacillated in this range throughout the day. The company has a market cap of $20.99 billion and the numbers of outstanding shares have been calculated to be 576.12 million shares.
Franklin Resources, Inc. (BEN) on Sep 6, 2016 announced a quarterly cash dividend in the amount of $0.18 per share payable on October 14, 2016 to stockholders of record holding shares of common stock at the close of business on September 30, 2016. The quarterly dividend of $0.18 per share is equivalent to the dividend paid for the prior quarter and represents a 20% increase over the quarterly dividend paid for the same quarter last year.
DiamondRock Hospitality, NYSE:DRH, Franklin Resources, NYSE:BEN, DRH, BEN