Shares of DiamondRock Hospitality Company (NYSE:DRH) ended Friday session in red amid volatile trading. The shares closed down -0.37 points or -3.81% at $9.34 with 3.85 million shares getting traded. Post opening the session at $9.59, the shares hit an intraday low of $9.33 and an intraday high of $9.59 and the price vacillated in this range throughout the day. The company has a market cap of $1.84 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 The Western Union Company (NYSE:WU) ended Friday session in red amid volatile trading. The shares closed down -0.56 points or -2.63% at $20.75 with 3.74 million shares getting traded. Post opening the session at $21.18, the shares hit an intraday low of $20.75 and an intraday high of $21.19 and the price vacillated in this range throughout the day. The company has a market cap of $9.91 billion and the numbers of outstanding shares have been calculated to be 487.73 million shares.
The Western Union Company (WU) announced that it will present at the Deutsche Bank Technology Conference on September 14, 2016 in Las Vegas. The presentation will begin at 10:20 a.m. Pacific Time and will include comments from Raj Agrawal, Executive Vice President and CFO.
Investors and interested parties will be able to listen to the investor presentation via webcast at http://ir.westernunion.com. The archived webcast will be available approximately one hour after the conclusion of the presentation.