DiamondRock Hospitality (NYSE:DRH) Short Interest Update

DiamondRock Hospitality (NYSE:DRH) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 17,500,000 shares, a decline of 6.0% from the May 31st total of 18,610,000 shares. Based on an average trading volume of 2,040,000 shares, the short-interest ratio is presently 8.6 days. Currently, 8.6% of the company’s stock are short sold.

Analyst Ratings Changes

Several research firms have issued reports on DRH. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Truist Financial raised their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.30.

DiamondRock Hospitality Stock Down 0.1 %

NYSE:DRH traded down $0.01 during mid-day trading on Wednesday, hitting $8.24. 547,305 shares of the company’s stock traded hands, compared to its average volume of 1,850,521. The company has a fifty day moving average of $8.47 and a 200 day moving average of $9.04. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.04 and a current ratio of 2.04. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The company has a market capitalization of $1.73 billion, a P/E ratio of 22.89, a P/E/G ratio of 6.22 and a beta of 1.60.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, June 28th. DiamondRock Hospitality’s payout ratio is currently 33.33%.

Institutional Trading of DiamondRock Hospitality

Several large investors have recently bought and sold shares of the stock. Northern Trust Corp boosted its position in DiamondRock Hospitality by 2.3% in the third quarter. Northern Trust Corp now owns 3,291,311 shares of the real estate investment trust’s stock valued at $26,429,000 after buying an additional 73,745 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of DiamondRock Hospitality by 6.9% in the third quarter. Natixis Advisors L.P. now owns 85,037 shares of the real estate investment trust’s stock worth $683,000 after acquiring an additional 5,470 shares during the period. Lazard Asset Management LLC increased its stake in shares of DiamondRock Hospitality by 53.2% in the third quarter. Lazard Asset Management LLC now owns 43,078 shares of the real estate investment trust’s stock worth $345,000 after acquiring an additional 14,952 shares during the period. Evergreen Capital Management LLC purchased a new position in shares of DiamondRock Hospitality during the third quarter worth $90,000. Finally, Diversified Trust Co lifted its position in DiamondRock Hospitality by 4.2% during the third quarter. Diversified Trust Co now owns 52,385 shares of the real estate investment trust’s stock valued at $421,000 after purchasing an additional 2,108 shares during the period.

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.