DiamondRock Hospitality (NYSE:DRH) Short Interest Update

by · The Cerbat Gem

DiamondRock Hospitality (NYSE:DRH – Get Free Report) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 18,780,000 shares, a growth of 12.9% from the September 30th total of 16,640,000 shares. Based on an average daily volume of 1,930,000 shares, the short-interest ratio is presently 9.7 days. Currently, 9.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DRH. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Compass Point raised shares of DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, August 5th. Wells Fargo & Company reduced their price target on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, 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 note on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, DiamondRock Hospitality has an average rating of “Hold” and a consensus target price of $9.92.

View Our Latest Analysis on DiamondRock Hospitality

DiamondRock Hospitality Stock Down 3.6 %

DRH traded down $0.32 during trading hours on Thursday, hitting $8.57. 1,584,832 shares of the company’s stock were exchanged, compared to its average volume of 1,869,745. DiamondRock Hospitality has a 12-month low of $7.45 and a 12-month high of $9.99. The firm has a 50 day moving average of $8.75 and a 200 day moving average of $8.54. The firm has a market cap of $1.78 billion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 4.27 and a beta of 1.60. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH – Get Free Report) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.22). DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The business had revenue of $309.28 million for the quarter, compared to analysts’ expectations of $301.77 million. During the same period in the previous year, the company earned $0.32 earnings per share. DiamondRock Hospitality’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts predict that DiamondRock Hospitality will post 0.98 EPS for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.40%. The ex-dividend date was Monday, September 30th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 41.38%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its holdings in DiamondRock Hospitality by 5.1% during the 3rd quarter. QRG Capital Management Inc. now owns 96,917 shares of the real estate investment trust’s stock worth $846,000 after acquiring an additional 4,678 shares in the last quarter. Van ECK Associates Corp grew its holdings in DiamondRock Hospitality by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 36,160 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 3,969 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in DiamondRock Hospitality during the 3rd quarter worth approximately $74,000. abrdn plc grew its holdings in DiamondRock Hospitality by 10.1% during the 3rd quarter. abrdn plc now owns 45,001 shares of the real estate investment trust’s stock worth $393,000 after acquiring an additional 4,131 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in DiamondRock Hospitality by 35.1% during the 3rd 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 in the last quarter.

About DiamondRock Hospitality

(Get Free Report)

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.

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