DiamondRock Hospitality (NYSE:DRH) Short Interest Update

DiamondRock Hospitality (NYSE:DRH) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 18,390,000 shares, an increase of 9.5% from the January 15th total of 16,800,000 shares. Currently, 9.1% of the company’s stock are short sold. Based on an average daily trading volume, of 2,170,000 shares, the short-interest ratio is currently 8.5 days.

DiamondRock Hospitality Stock Up 0.5 %

Shares of DRH stock traded up $0.05 during trading hours on Friday, hitting $8.59. 1,144,423 shares of the company were exchanged, compared to its average volume of 1,435,823. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a one year low of $7.74 and a one year high of $10.00. The business’s 50-day simple moving average is $9.02 and its two-hundred day simple moving average is $8.85. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 4.88 and a beta of 1.57.

DiamondRock Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.28 dividend on an annualized basis and a yield of 14.91%. This is a boost from DiamondRock Hospitality’s previous quarterly dividend of $0.03. DiamondRock Hospitality’s dividend payout ratio (DPR) is currently 42.86%.

Analyst Ratings Changes

DRH has been the subject of a number of analyst reports. Evercore ISI cut shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price objective for the company. in a research report on Friday, November 15th. Stifel Nicolaus cut shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and reduced their price target for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company increased their price target on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and an average price target of $10.25.

Hedge Funds Weigh In On DiamondRock Hospitality

A number of large investors have recently bought and sold shares of the business. Xponance Inc. lifted its holdings in DiamondRock Hospitality by 9.9% in the fourth quarter. Xponance Inc. now owns 15,098 shares of the real estate investment trust’s stock worth $136,000 after acquiring an additional 1,360 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in DiamondRock Hospitality by 1.6% in the third quarter. Orion Portfolio Solutions LLC now owns 104,965 shares of the real estate investment trust’s stock worth $916,000 after acquiring an additional 1,652 shares during the last quarter. Vert Asset Management LLC lifted its holdings in DiamondRock Hospitality by 2.1% in the fourth quarter. Vert Asset Management LLC now owns 82,570 shares of the real estate investment trust’s stock worth $746,000 after acquiring an additional 1,729 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 2,116 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in DiamondRock Hospitality by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 23,773 shares of the real estate investment trust’s stock worth $215,000 after acquiring an additional 2,427 shares during the last quarter.

DiamondRock Hospitality Company Profile

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in leisure destinations and top gateway markets. The Company currently owns 36 premium quality hotels with over 9,700 rooms. The Company has strategically positioned its portfolio to be operated both under leading global brand families as well as independent boutique hotels in the lifestyle segment.