DiamondRock Hospitality (NYSE:DRH) Sees Large Decrease in Short Interest

DiamondRock Hospitality (NYSE:DRHGet Free Report) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 15,800,000 shares, a decline of 21.4% from the December 31st total of 20,100,000 shares. Currently, 7.8% of the shares of the company are short sold. Based on an average trading volume of 2,120,000 shares, the days-to-cover ratio is currently 7.5 days.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DRH shares. StockNews.com upgraded shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised their target price on DiamondRock Hospitality from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Monday, December 9th. Evercore ISI downgraded shares of DiamondRock Hospitality from an “outperform” rating to an “inline” rating and set a $10.50 price target for the company. in a report on Friday, November 15th. Finally, Stifel Nicolaus lowered shares of DiamondRock Hospitality from a “buy” rating to a “hold” rating and lowered their target price for the stock from $10.75 to $10.25 in a research report on Friday, November 22nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and an average target price of $10.25.

View Our Latest Report on DRH

DiamondRock Hospitality Price Performance

Shares of DiamondRock Hospitality stock traded up $0.03 on Thursday, hitting $8.84. The company’s stock had a trading volume of 488,592 shares, compared to its average volume of 1,551,072. DiamondRock Hospitality has a 52-week low of $7.74 and a 52-week high of $10.00. The company has a market capitalization of $1.83 billion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 4.94 and a beta of 1.59. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $9.19 and a 200-day moving average price of $8.83.

DiamondRock Hospitality Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a dividend of $0.32 per share. This is an increase from DiamondRock Hospitality’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, December 31st. This represents a $1.28 annualized dividend and a dividend yield of 14.49%. DiamondRock Hospitality’s dividend payout ratio is presently 42.86%.

Institutional Trading of DiamondRock Hospitality

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its stake in DiamondRock Hospitality by 8.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 320,909 shares of the real estate investment trust’s stock valued at $2,956,000 after purchasing an additional 26,213 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of DiamondRock Hospitality by 8.4% during the 4th quarter. Van ECK Associates Corp now owns 39,187 shares of the real estate investment trust’s stock valued at $354,000 after acquiring an additional 3,027 shares during the last quarter. Lightrock Netherlands B.V. purchased a new position in shares of DiamondRock Hospitality during the 4th quarter worth about $4,707,000. Entropy Technologies LP acquired a new stake in shares of DiamondRock Hospitality in the fourth quarter worth approximately $857,000. Finally, Advisors Preferred LLC purchased a new stake in DiamondRock Hospitality in the fourth quarter valued at approximately $4,131,000.

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.

Further Reading

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