DiamondRock Hospitality (NYSE:DRH) Short Interest Update

DiamondRock Hospitality (NYSE:DRH - Get Free Report) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 18,390,000 shares, an increase of 9.5% from the January 15th total of 16,800,000 shares. Based on an average daily volume of 2,170,000 shares, the short-interest ratio is presently 8.5 days. Currently, 9.1% of the shares of the stock are short sold.

Institutional Trading of DiamondRock Hospitality

A number of large investors have recently bought and sold shares of DRH. SG Americas Securities LLC acquired a new stake in DiamondRock Hospitality during the third quarter worth approximately $100,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of DiamondRock Hospitality by 35.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,153 shares of the real estate investment trust's stock worth $73,000 after buying an additional 2,116 shares in the last quarter. abrdn plc grew its position in shares of DiamondRock Hospitality by 10.1% during the 3rd quarter. abrdn plc now owns 45,001 shares of the real estate investment trust's stock worth $393,000 after buying an additional 4,131 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of DiamondRock Hospitality in the 3rd quarter valued at $74,000. Finally, Van ECK Associates Corp lifted its position in shares of DiamondRock Hospitality by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 36,160 shares of the real estate investment trust's stock valued at $315,000 after acquiring an additional 3,969 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com raised DiamondRock Hospitality from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Stifel Nicolaus lowered shares of DiamondRock Hospitality from a "buy" rating to a "hold" rating and reduced their target price for the stock from $10.75 to $10.25 in a report on Friday, November 22nd. 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 research note on Friday, November 15th. Finally, Wells Fargo & Company cut their price target on shares of DiamondRock Hospitality from $10.50 to $9.50 and set an "equal weight" rating on the stock in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, DiamondRock Hospitality currently has a consensus rating of "Hold" and an average target price of $10.05.

DiamondRock Hospitality Trading Down 1.4 %

Shares of NYSE DRH traded down $0.12 during midday trading on Thursday, reaching $8.53. The stock had a trading volume of 1,522,719 shares, compared to its average volume of 1,502,983. The company's 50 day moving average price is $8.95 and its 200 day moving average price is $8.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.73 and a current ratio of 1.73. DiamondRock Hospitality has a twelve month low of $7.74 and a twelve month high of $10.00. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 30.45, a price-to-earnings-growth ratio of 2.08 and a beta of 1.57.

DiamondRock Hospitality Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a $0.32 dividend. This is a positive change from DiamondRock Hospitality's previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.28 annualized dividend and a yield of 15.01%. DiamondRock Hospitality's payout ratio is presently 42.86%.

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.