DiamondRock Hospitality (NYSE:DRH) Sees Significant Growth in Short Interest

DiamondRock Hospitality (NYSE:DRH - Get Free Report) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 19,060,000 shares, an increase of 5.2% from the November 15th total of 18,120,000 shares. Approximately 9.4% of the shares of the company are short sold. Based on an average daily trading volume, of 2,120,000 shares, the short-interest ratio is presently 9.0 days.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus downgraded DiamondRock Hospitality from a "buy" rating to a "hold" rating and decreased their target price for the company from $10.75 to $10.25 in a research note on Friday, November 22nd. StockNews.com upgraded DiamondRock Hospitality from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Truist Financial lowered their price objective on DiamondRock Hospitality from $11.00 to $10.00 and set a "hold" rating for the company in a research note on Wednesday, September 4th. 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 research note on Monday, December 9th. Finally, Evercore ISI lowered shares of DiamondRock Hospitality from an "outperform" rating to an "inline" rating and set a $10.50 price target for the company. in a research report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, DiamondRock Hospitality currently has a consensus rating of "Hold" and an average price target of $10.38.

DiamondRock Hospitality Stock Performance

DRH stock traded up $0.08 during trading on Monday, reaching $9.73. 1,484,937 shares of the company's stock were exchanged, compared to its average volume of 1,967,462. DiamondRock Hospitality has a 1-year low of $7.74 and a 1-year high of $10.00. The firm has a market cap of $2.02 billion, a PE ratio of 35.00, a P/E/G ratio of 5.65 and a beta of 1.60. The company's fifty day moving average price is $9.11 and its 200-day moving average price is $8.66. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

DiamondRock Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 13.16%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. DiamondRock Hospitality's dividend payout ratio is currently 42.86%.

Hedge Funds Weigh In On DiamondRock Hospitality

Several large investors have recently bought and sold shares of DRH. Quarry LP increased its position in shares of DiamondRock Hospitality by 2,093.9% during the 2nd 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 bought a new position in DiamondRock Hospitality during the second quarter valued at about $42,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in DiamondRock Hospitality by 35.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust's stock worth $73,000 after acquiring an additional 2,116 shares during the period. Harbor Capital Advisors Inc. bought a new stake in DiamondRock Hospitality in the third quarter worth about $74,000. Finally, Choreo LLC acquired a new stake in DiamondRock Hospitality in the 2nd quarter valued at about $89,000.

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.