Diamondrock Hospitality Company (NYSE:DRH) has seen a rise of 1,582,711 shares or 14.6% in the short interest. The remaining shorts are 6.3% of the total floated shares. The net short interest, as on June 15,2016, stood at 12,444,845 shares and the stocks days to cover will be 6 by factoring in the average per day volume of 2,185,880 shares. On May 31,2016, 10,862,134 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Diamondrock Hospitality Company (NYSE:DRH): The stock opened at $9.48 on Friday but the bulls could not build on the opening and the stock topped out at $9.48 for the day. The stock traded down to $8.96 during the day, due to lack of any buying support eventually closed down at $9.08 with a loss of -7.16% for the day. The stock had closed at $9.78 on the previous day. The total traded volume was 5,879,837 shares.
The company shares have dropped -29.06% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $13.86 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $9.17 and the 200 Day Moving Average price is recorded at $9.19.
Diamondrock Hospitality Company (NYSE:DRH) has tumbled 5.52% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 2.37% in the last four weeks. The stocks have underperformed the S&P 500 by 3.95% during the past week but Diamondrock Hospitality Company (NYSE:DRH) it has outperformed the index in 4 weeks by 5.47%.
DiamondRock Hospitality Company is a lodging focused Maryland corporation operating as a real estate investment trust (REIT). As of December 31, 2014, the Company owned a portfolio of 27 hotels and resorts throughout North America and the United States Virgin Islands that consists of 10,552 guest rooms. The Company conducts its business through a traditional umbrella partnership REIT, or umbrella partnership real estate investment trust (UPREIT) in , which the Companys hotels are owned by subsidiaries of its operating partnership, DiamondRock Hospitality Limited Partnership. The Company is the sole general partner of its operating partnership and owns either directly or indirectly, all of the limited partnership units of its operating partnership. The Company leases all of its domestic hotels to REIT subsidiary or TRS lessees. In turn, the Companys TRS lessees must engage a third-party management company to manage the hotels.