DiamondRock Hospitality (NYSE:DRH) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 7,253,200 shares, a decrease of 10.5% from the June 15th total of 8,102,200 shares. Approximately 3.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,910,000 shares, the days-to-cover ratio is presently 3.8 days.

DRH stock traded up $0.04 during mid-day trading on Monday, reaching $10.06. The company had a trading volume of 26,538 shares, compared to its average volume of 1,250,074. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market cap of $2.02 billion, a P/E ratio of 9.88, a PEG ratio of 1.94 and a beta of 1.39. The business has a 50 day moving average of $10.14. DiamondRock Hospitality has a 12 month low of $8.69 and a 12 month high of $12.35.

DiamondRock Hospitality (NYSE:DRH) last issued its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.14). The company had revenue of $202.38 million during the quarter, compared to the consensus estimate of $194.62 million. DiamondRock Hospitality had a return on equity of 4.90% and a net margin of 10.44%. DiamondRock Hospitality’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 earnings per share. Equities analysts anticipate that DiamondRock Hospitality will post 1.03 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.125 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.50 dividend on an annualized basis and a yield of 4.97%. DiamondRock Hospitality’s dividend payout ratio is currently 49.02%.

Several brokerages recently commented on DRH. Wells Fargo & Co upgraded shares of Centurylink from a “market perform” rating to an “outperform” rating and upped their price target for the company from $12.00 to $14.00 in a report on Wednesday, June 26th. Zacks Investment Research downgraded shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Finally, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Four research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. DiamondRock Hospitality presently has an average rating of “Hold” and an average price target of $10.19.

In related news, Director Maureen L. Mcavey sold 8,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $10.36, for a total transaction of $82,880.00. Following the transaction, the director now directly owns 91,688 shares in the company, valued at approximately $949,887.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of DRH. Norges Bank bought a new position in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $23,362,000. FMR LLC boosted its stake in shares of DiamondRock Hospitality by 5.0% during the first quarter. FMR LLC now owns 11,729,394 shares of the real estate investment trust’s stock valued at $127,030,000 after purchasing an additional 560,676 shares in the last quarter. Long Pond Capital LP boosted its stake in shares of DiamondRock Hospitality by 20.0% during the first quarter. Long Pond Capital LP now owns 2,863,443 shares of the real estate investment trust’s stock valued at $31,011,000 after purchasing an additional 476,643 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $4,224,000. Finally, Millennium Management LLC bought a new position in shares of DiamondRock Hospitality during the fourth quarter valued at approximately $3,102,000.

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 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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