DiamondRock Hospitality (NYSE:DRH) Short Interest Up 14.7% in April

DiamondRock Hospitality (NYSE:DRH) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 15,250,000 shares, an increase of 14.7% from the March 31st total of 13,290,000 shares. Based on an average daily trading volume, of 1,700,000 shares, the days-to-cover ratio is currently 9.0 days. Approximately 7.5% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. StockNews.com lowered DiamondRock Hospitality from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. Wolfe Research began coverage on DiamondRock Hospitality in a research report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 target price on the stock. Truist Financial boosted their target price on DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a research report on Thursday, March 14th. Finally, Stifel Nicolaus boosted their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the stock a “buy” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.30.

DiamondRock Hospitality Stock Down 0.7 %

NYSE:DRH traded down $0.06 during trading hours on Wednesday, hitting $8.84. 499,309 shares of the company’s stock traded hands, compared to its average volume of 1,744,040. The firm has a market cap of $1.86 billion, a P/E ratio of 24.72 and a beta of 1.60. DiamondRock Hospitality has a twelve month low of $7.33 and a twelve month high of $9.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.00 and a current ratio of 2.00. The stock’s fifty day moving average price is $9.35 and its two-hundred day moving average price is $9.00.

DiamondRock Hospitality (NYSE:DRH) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.14). The business had revenue of $263.50 million for the quarter, compared to analyst estimates of $261.45 million. DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. On average, research analysts expect that DiamondRock Hospitality will post 0.96 earnings per share for the current fiscal year.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.36%. The ex-dividend date was Wednesday, March 27th. DiamondRock Hospitality’s payout ratio is currently 33.33%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DRH. National Bank of Canada FI acquired a new position in DiamondRock Hospitality in the 3rd quarter worth about $30,000. SG Americas Securities LLC boosted its stake in DiamondRock Hospitality by 189.7% during the 3rd quarter. SG Americas Securities LLC now owns 159,854 shares of the real estate investment trust’s stock valued at $1,284,000 after purchasing an additional 104,666 shares during the period. Vert Asset Management LLC boosted its stake in DiamondRock Hospitality by 27.0% during the 3rd quarter. Vert Asset Management LLC now owns 87,299 shares of the real estate investment trust’s stock valued at $701,000 after purchasing an additional 18,549 shares during the period. Bailard Inc. raised its holdings in shares of DiamondRock Hospitality by 82.0% in the 3rd quarter. Bailard Inc. now owns 51,311 shares of the real estate investment trust’s stock worth $412,000 after buying an additional 23,111 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of DiamondRock Hospitality by 8.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,969 shares of the real estate investment trust’s stock worth $755,000 after buying an additional 7,356 shares in 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.