DiamondRock Hospitality (NYSE:DRH) Short Interest Down 10.3% in August

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DiamondRock Hospitality (NYSE:DRH) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 6,933,100 shares, a drop of 10.3% from the July 31st total of 7,732,800 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily volume of 1,820,000 shares, the short-interest ratio is currently 3.8 days.

Shares of NYSE:DRH traded up $0.12 on Friday, reaching $10.00. 5,277,200 shares of the company traded hands, compared to its average volume of 1,502,337. The business’s 50-day simple moving average is $9.62 and its 200 day simple moving average is $10.30. DiamondRock Hospitality has a 52 week low of $8.69 and a 52 week high of $12.00. The stock has a market capitalization of $2.00 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.65.

DiamondRock Hospitality (NYSE:DRH) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. DiamondRock Hospitality had a return on equity of 5.00% and a net margin of 10.32%. The firm had revenue of $257.92 million for the quarter, compared to analysts’ expectations of $253.67 million. During the same period last year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts expect that DiamondRock Hospitality will post 1.03 EPS for the current fiscal year.

In other DiamondRock Hospitality news, Director Maureen L. Mcavey sold 8,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $10.36, for a total transaction of $82,880.00. Following the sale, the director now owns 91,688 shares in the company, valued at $949,887.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of DRH. Geode Capital Management LLC grew its stake in shares of DiamondRock Hospitality by 8.2% in the fourth quarter. Geode Capital Management LLC now owns 3,046,592 shares of the real estate investment trust’s stock worth $27,663,000 after purchasing an additional 230,166 shares during the last quarter. Bank of Montreal Can grew its stake in shares of DiamondRock Hospitality by 2.3% in the first quarter. Bank of Montreal Can now owns 47,249 shares of the real estate investment trust’s stock worth $511,000 after purchasing an additional 1,072 shares during the last quarter. Everence Capital Management Inc. grew its stake in shares of DiamondRock Hospitality by 77.9% in the first quarter. Everence Capital Management Inc. now owns 24,980 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 10,940 shares during the last quarter. LSV Asset Management grew its stake in shares of DiamondRock Hospitality by 1.5% in the first quarter. LSV Asset Management now owns 4,848,644 shares of the real estate investment trust’s stock worth $52,510,000 after purchasing an additional 70,100 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of DiamondRock Hospitality by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 80,527 shares of the real estate investment trust’s stock worth $872,000 after purchasing an additional 1,455 shares during the last quarter.

A number of equities research analysts have weighed in on DRH shares. Barclays restated a “hold” rating and set a $10.00 price target on shares of DiamondRock Hospitality in a research report on Tuesday, August 13th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $9.50 price objective on shares of DiamondRock Hospitality in a research note on Monday, August 19th. TheStreet cut DiamondRock Hospitality from a “b-” rating to a “c+” rating in a research note on Thursday, August 1st. Zacks Investment Research cut DiamondRock Hospitality from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, ValuEngine cut DiamondRock Hospitality from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. DiamondRock Hospitality presently has an average rating of “Hold” and a consensus target price of $9.64.

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 top gateway markets and destination resort locations. The Company owns 31 premium quality hotels with over 10,000 rooms. The Company has strategically positioned its hotels to be operated both under leading global brand families such as Hilton and Marriott as well as unique boutique hotels in the lifestyle segment.

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