DiamondRock Hospitality (NYSE:DRH) Short Interest Up 7.1% in July

DiamondRock Hospitality (NYSE:DRHGet Free Report) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 18,310,000 shares, an increase of 7.1% from the July 15th total of 17,100,000 shares. Currently, 9.1% of the company’s stock are short sold. Based on an average daily volume of 2,080,000 shares, the short-interest ratio is presently 8.8 days.

DiamondRock Hospitality Stock Up 2.9 %

Shares of DRH stock opened at $8.43 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.04 and a current ratio of 2.04. The firm’s 50-day moving average is $8.26 and its 200-day moving average is $8.78. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 4.75 and a beta of 1.60. DiamondRock Hospitality has a 52-week low of $7.33 and a 52-week high of $9.99.

DiamondRock Hospitality (NYSE:DRHGet Free Report) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $301.77 million. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts predict that DiamondRock Hospitality will post 0.98 EPS for the current year.

DiamondRock Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, June 28th. DiamondRock Hospitality’s payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. 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 report on Monday, August 5th. StockNews.com upgraded DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.25.

Get Our Latest Research Report on DRH

Hedge Funds Weigh In On DiamondRock Hospitality

Large investors have recently modified their holdings of the stock. Paralel Advisors LLC bought a new position in DiamondRock Hospitality in the 4th quarter valued at about $2,352,000. Natixis bought a new stake in shares of DiamondRock Hospitality during the first quarter worth approximately $728,000. Centersquare Investment Management LLC increased its stake in shares of DiamondRock Hospitality by 40.3% during the first quarter. Centersquare Investment Management LLC now owns 6,303,698 shares of the real estate investment trust’s stock worth $56,103,000 after purchasing an additional 1,810,788 shares during the period. Louisiana State Employees Retirement System acquired a new stake in DiamondRock Hospitality during the 4th quarter worth approximately $985,000. Finally, Russell Investments Group Ltd. boosted its stake in DiamondRock Hospitality by 19.9% in the 1st quarter. Russell Investments Group Ltd. now owns 562,844 shares of the real estate investment trust’s stock valued at $5,409,000 after purchasing an additional 93,381 shares during the period.

DiamondRock Hospitality Company Profile

(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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