Wyndham Says It Sees No Signs of Distress
The DJIA fell another 12 points, but Nasdaq rallied 151 while the S&P 500 rose 21 points, and the 10-year treasury yield was down .09 to 4.16%. Lodging stocks were mixed with relief finally from the new lows list. CLDT and VAC made that list today but the others that have been on there the past few trading sessions avoided it, at least for today.
Truist hosted management meetings with DiamondRock Hospitality. The one main takeaway was that DRH acknowledged some softness in business but is not seeing any significant weakness. DRH recently sent shareholders a letter and Truist said they could not think of any investor meetings they ever had when an annual shareholder letter was more frequently mentioned and more positively received by investors. The letter highlighted free cash flow growth and yield, a big change from the typical REIT prioritizing investment theme over financial performance.
Truist also reported on meetings they held with
