DiamondRock Hospitality (NYSE:DRH) Short Interest Up 7.1% in July

DiamondRock Hospitality (NYSE:DRH) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 18,310,000 shares, an increase of 7.1% from the July 15th total of 17,100,000 shares. Based on an average daily volume of 2,080,000 shares, the days-to-cover ratio is currently 8.8 days. Currently, 9.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. StockNews.com raised DiamondRock Hospitality from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Compass Point upgraded DiamondRock Hospitality from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.25.

DiamondRock Hospitality Stock Performance

Shares of DRH opened at $8.19 on Monday. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 4.75 and a beta of 1.60. The business’s fifty day simple moving average is $8.25 and its two-hundred day simple moving average is $8.78. DiamondRock Hospitality has a 12 month low of $7.33 and a 12 month high of $9.99. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.71.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The company had revenue of $309.28 million during the quarter, compared to the consensus estimate of $301.77 million. DiamondRock Hospitality had a return on equity of 4.31% and a net margin of 6.43%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Research analysts anticipate that DiamondRock Hospitality will post 0.98 earnings per share for the current fiscal year.

DiamondRock Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, June 28th. This represents a $0.12 dividend on an annualized basis and a yield of 1.47%. DiamondRock Hospitality’s dividend payout ratio is currently 33.33%.

Institutional Investors Weigh In On DiamondRock Hospitality

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in DiamondRock Hospitality by 6.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 99,903 shares of the real estate investment trust’s stock worth $938,000 after buying an additional 6,396 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of DiamondRock Hospitality during the fourth quarter worth about $985,000. New York State Common Retirement Fund raised its stake in DiamondRock Hospitality by 4.3% during the 4th quarter. New York State Common Retirement Fund now owns 129,727 shares of the real estate investment trust’s stock valued at $1,218,000 after purchasing an additional 5,348 shares during the period. Wolverine Asset Management LLC purchased a new position in DiamondRock Hospitality in the 4th quarter worth approximately $516,000. Finally, Yousif Capital Management LLC lifted its holdings in DiamondRock Hospitality by 8.1% in the 4th quarter. Yousif Capital Management LLC now owns 87,494 shares of the real estate investment trust’s stock worth $822,000 after purchasing an additional 6,566 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.