DiamondRock Hospitality (NYSE:DRH) Short Interest Up 12.9% in October

DiamondRock Hospitality (NYSE:DRH) saw a large 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. Approximately 9.3% of the company’s stock are sold short. Based on an average daily trading volume, of 1,930,000 shares, the short-interest ratio is presently 9.7 days.

DiamondRock Hospitality Stock Down 3.6 %

Shares of DRH traded down $0.32 during midday trading on Thursday, reaching $8.57. The stock had a trading volume of 1,584,832 shares, compared to its average volume of 1,869,745. DiamondRock Hospitality has a 1-year low of $7.45 and a 1-year high of $9.99. The company’s fifty day simple moving average is $8.75 and its two-hundred day simple moving average is $8.54. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 4.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). DiamondRock Hospitality had a net margin of 6.43% and a return on equity of 4.31%. The firm had revenue of $309.28 million during the quarter, compared to analyst estimates of $301.77 million. During the same quarter in the previous year, the business posted $0.32 earnings per share. DiamondRock Hospitality’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts expect that DiamondRock Hospitality will post 0.98 earnings per share for the current year.

DiamondRock Hospitality Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.12 annualized dividend and a yield of 1.40%. DiamondRock Hospitality’s dividend payout ratio is currently 33.33%.

Institutional Investors Weigh In On DiamondRock Hospitality

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP increased its stake in DiamondRock Hospitality by 2,093.9% in the second quarter. Quarry LP now owns 3,949 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 3,769 shares during the period. Headlands Technologies LLC acquired a new position in DiamondRock Hospitality in the second quarter valued at $42,000. Mirae Asset Global Investments Co. Ltd. increased its stake in DiamondRock Hospitality by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 2,116 shares during the period. Harbor Capital Advisors Inc. acquired a new position in DiamondRock Hospitality in the third quarter valued at $74,000. Finally, Choreo LLC acquired a new position in DiamondRock Hospitality in the second quarter valued at $89,000.

Analysts Set New Price Targets

Several equities analysts have commented on DRH shares. StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research report 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 for the company in a research report on Monday, August 5th. Truist Financial decreased their price target on shares of DiamondRock Hospitality from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their price objective on shares of DiamondRock Hospitality from $9.50 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, DiamondRock Hospitality currently has an average rating of “Hold” and an average price target of $9.92.

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.