DiamondRock Hospitality (NYSE:DRH) Short Interest Update

DiamondRock Hospitality (NYSE:DRH) was the target of a significant 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. Approximately 8.6% of the company’s stock are short sold. Based on an average daily volume of 2,040,000 shares, the short-interest ratio is presently 8.6 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On DiamondRock Hospitality

A number of institutional investors and hedge funds have recently bought and sold shares of DRH. Price T Rowe Associates Inc. MD lifted its holdings in DiamondRock Hospitality by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 301,702 shares of the real estate investment trust’s stock valued at $2,900,000 after acquiring an additional 24,761 shares during the last quarter. BOKF NA boosted its holdings in shares of DiamondRock Hospitality by 83.8% in the first quarter. BOKF NA now owns 15,179 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 6,920 shares during the period. Natixis acquired a new position in shares of DiamondRock Hospitality in the first quarter worth about $728,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of DiamondRock Hospitality by 5.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 439,584 shares of the real estate investment trust’s stock worth $4,216,000 after buying an additional 21,682 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of DiamondRock Hospitality by 32.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,119 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 4,240 shares during the period.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $8.24 on Thursday. The firm has a 50-day moving average price of $8.47 and a 200 day moving average price of $9.04. The firm has a market capitalization of $1.73 billion, a PE ratio of 22.89, a P/E/G ratio of 6.08 and a beta of 1.60. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.71. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99.

DiamondRock Hospitality Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.12 dividend on an annualized basis and a yield of 1.46%. DiamondRock Hospitality’s dividend payout ratio is presently 33.33%.

About DiamondRock Hospitality

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.