DiamondRock affirms outlook, but shares slide
Shares of DiamondRock Hospitality Co. declined with the broader market on Thursday after the hotel real estate investment trust affirmed its 2008 financial guidance and said it is looking to sell one or two of its properties to boost liquidity. DiamondRock shares fell 24 cents, or 5.7 percent, to $4 in afternoon trading, as the broader market also sank on worries about the ongoing banking crisis. The stock has lost 72 percent since hitting its 12-month peak of $15.28 last January. DiamondRock said it expects to report 2008 adjusted funds from operations at about the midpoint of its guidance range of $1.46 to $1.51 per share.