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

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of DiamondRock Hospitality during the 4th quarter valued at $13,301,000. Pzena Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 9.1% during the 3rd quarter. Pzena Investment Management LLC now owns 9,720,155 shares of the real estate investment trust’s stock valued at $78,053,000 after buying an additional 810,972 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of DiamondRock Hospitality by 17.0% during the 4th quarter. Centersquare Investment Management LLC now owns 4,492,910 shares of the real estate investment trust’s stock valued at $42,188,000 after buying an additional 652,095 shares in the last quarter. Bamco Inc. NY bought a new stake in shares of DiamondRock Hospitality during the 3rd quarter valued at $3,866,000. Finally, Paralel Advisors LLC bought a new position in DiamondRock Hospitality in the 4th quarter worth about $2,352,000.

Analyst Ratings Changes

A number of research firms have recently commented on DRH. Truist Financial raised their price objective on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the company a “hold” rating in a research report on Thursday, March 14th. Wolfe Research began coverage on shares of DiamondRock Hospitality in a research report on Wednesday, January 10th. They set an “outperform” rating and a $11.00 target price for the company. Stifel Nicolaus lifted their target price on shares of DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, StockNews.com lowered shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. One equities research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.30.

DiamondRock Hospitality Trading Down 0.7 %

Shares of NYSE DRH traded down $0.06 during mid-day trading on Wednesday, hitting $8.84. The stock had a trading volume of 499,309 shares, compared to its average volume of 1,744,040. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.00 and a current ratio of 2.00. DiamondRock Hospitality has a 1 year low of $7.33 and a 1 year high of $9.99. The business has a 50 day moving average price of $9.35 and a two-hundred day moving average price of $9.00. 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 (NYSE:DRH) last issued its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a return on equity of 5.29% and a net margin of 8.03%. The firm had revenue of $263.50 million during the quarter, compared to analysts’ expectations of $261.45 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that DiamondRock Hospitality will post 0.96 EPS for the current fiscal year.

DiamondRock Hospitality Announces Dividend

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

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.