Short Interest in DiamondRock Hospitality (NYSE:DRH) Increases By 5.2%

DiamondRock Hospitality (NYSE:DRH) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 19,060,000 shares, an increase of 5.2% from the November 15th total of 18,120,000 shares. Approximately 9.4% of the shares of the stock are short sold. Based on an average daily volume of 2,120,000 shares, the short-interest ratio is presently 9.0 days.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stifel Nicolaus lowered 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 report on Friday, November 22nd. Evercore ISI lowered shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 target price on the stock. in a report on Friday, November 15th. Truist Financial reduced their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price objective on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Finally, StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.38.

Institutional Trading of DiamondRock Hospitality

Several hedge funds have recently modified their holdings of DRH. Rush Island Management LP purchased a new stake in shares of DiamondRock Hospitality in the 3rd quarter valued at approximately $51,726,000. Millennium Management LLC acquired a new stake in DiamondRock Hospitality in the second quarter valued at $15,118,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in DiamondRock Hospitality by 326.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,235,728 shares of the real estate investment trust’s stock worth $10,788,000 after buying an additional 946,073 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of DiamondRock Hospitality during the 3rd quarter worth about $6,442,000. Finally, Wellington Management Group LLP boosted its position in shares of DiamondRock Hospitality by 15.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,925,093 shares of the real estate investment trust’s stock worth $42,996,000 after acquiring an additional 663,529 shares in the last quarter.

DiamondRock Hospitality Trading Down 0.4 %

Shares of DRH traded down $0.04 during midday trading on Tuesday, hitting $9.70. 1,935,927 shares of the stock were exchanged, compared to its average volume of 1,967,338. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $8.67. The firm has a market cap of $2.01 billion, a P/E ratio of 34.77, a P/E/G ratio of 5.65 and a beta of 1.60.

DiamondRock Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 13.20%. The ex-dividend date is Tuesday, December 31st. 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%.

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.