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

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

DiamondRock Hospitality Stock Up 0.6 %

DiamondRock Hospitality stock traded up $0.05 during trading on Monday, hitting $9.10. 2,769,558 shares of the company were exchanged, compared to its average volume of 1,747,939. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $9.36 and its 200 day moving average is $8.99. DiamondRock Hospitality has a 52 week low of $7.33 and a 52 week high of $9.99. The company has a market capitalization of $1.92 billion, a P/E ratio of 25.28 and a beta of 1.60.

DiamondRock Hospitality (NYSE:DRH) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.14). DiamondRock Hospitality had a net margin of 8.03% and a return on equity of 5.29%. The business had revenue of $263.50 million during the quarter, compared to the consensus estimate of $261.45 million. During the same period in the prior year, the company earned $0.23 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Analysts predict that DiamondRock Hospitality will post 0.96 earnings per share for the current year.

DiamondRock Hospitality Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.32%. DiamondRock Hospitality’s payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial lifted their price target on shares of DiamondRock Hospitality from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Stifel Nicolaus increased their price target on DiamondRock Hospitality from $10.00 to $10.50 and gave the company a “buy” rating in a research note on Friday, February 23rd. Wolfe Research assumed coverage on DiamondRock Hospitality in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $11.00 price objective on the stock. Finally, StockNews.com downgraded shares of DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, DiamondRock Hospitality has a consensus rating of “Hold” and an average price target of $10.30.

Institutional Investors Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI bought a new position in shares of DiamondRock Hospitality in the third quarter worth $30,000. Parallel Advisors LLC boosted its stake in DiamondRock Hospitality by 313.5% in the 4th quarter. Parallel Advisors LLC now owns 3,196 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 2,423 shares during the period. Quadrant Capital Group LLC grew its holdings in DiamondRock Hospitality by 195.7% during the 4th quarter. Quadrant Capital Group LLC now owns 3,330 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 2,204 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of DiamondRock Hospitality during the third quarter valued at about $90,000. Finally, Metis Global Partners LLC lifted its holdings in shares of 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 buying an additional 2,324 shares in the last quarter.

About DiamondRock Hospitality

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.