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

DiamondRock Hospitality (NYSE:DRH) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totalling 17,100,000 shares, a growth of 9.1% from the June 30th total of 15,680,000 shares. Based on an average trading volume of 2,050,000 shares, the days-to-cover ratio is presently 8.3 days. Approximately 8.4% of the shares of the company are sold short.

DiamondRock Hospitality Stock Down 0.1 %

DRH stock traded down $0.01 during mid-day trading on Tuesday, reaching $8.38. 641,930 shares of the company traded hands, compared to its average volume of 1,858,740. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.71. The firm’s 50 day moving average price is $8.35 and its 200 day moving average price is $8.91. DiamondRock Hospitality has a fifty-two week low of $7.33 and a fifty-two week high of $9.99. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 4.89 and a beta of 1.60.

DiamondRock Hospitality Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, June 28th. DiamondRock Hospitality’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of DiamondRock Hospitality from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.30.

Institutional Investors Weigh In On DiamondRock Hospitality

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in DiamondRock Hospitality by 313.5% during the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,423 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of DiamondRock Hospitality by 195.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 2,204 shares during the period. LDR Capital Management LLC increased its position in shares of DiamondRock Hospitality by 25.5% during the 1st quarter. LDR Capital Management LLC now owns 13,244 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 2,692 shares during the last quarter. Metis Global Partners LLC raised its position in DiamondRock Hospitality by 19.4% in the fourth quarter. Metis Global Partners LLC now owns 14,309 shares of the real estate investment trust’s stock worth $134,000 after acquiring an additional 2,324 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its position in shares of DiamondRock Hospitality by 8.8% during the 4th quarter. First Trust Direct Indexing L.P. now owns 14,660 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 1,181 shares in the last quarter.

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.