BidaskClub lowered shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) from a buy rating to a hold rating in a report issued on Monday, July 24th.
A number of other research firms also recently issued reports on SHO. Robert W. Baird reaffirmed a neutral rating and set a $17.00 price target (up previously from $16.00) on shares of Sunstone Hotel Investors in a research note on Friday, June 16th. Zacks Investment Research downgraded shares of Sunstone Hotel Investors from a buy rating to a hold rating in a research note on Thursday, June 22nd. FBR & Co boosted their price objective on shares of Sunstone Hotel Investors from $15.00 to $16.00 and gave the company a mkt perform rating in a research report on Thursday, May 4th. Canaccord Genuity reiterated a buy rating and set a $17.00 price objective on shares of Sunstone Hotel Investors in a research report on Wednesday, May 3rd. Finally, Boenning Scattergood reiterated a neutral rating on shares of Sunstone Hotel Investors in a research report on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Sunstone Hotel Investors presently has a consensus rating of Hold and a consensus price target of $15.64.
Shares of Sunstone Hotel Investors (NYSE:SHO) traded down 1.60% during trading on Monday, hitting $15.41. 2,576,479 shares of the stock were exchanged. The firm has a 50 day moving average of $16.03 and a 200-day moving average of $15.55. The stock has a market cap of $3.47 billion, a PE ratio of 19.99 and a beta of 1.17. Sunstone Hotel Investors has a 52-week low of $12.14 and a 52-week high of $16.86.
Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. The company had revenue of $318.80 million for the quarter, compared to the consensus estimate of $316.96 million. Sunstone Hotel Investors had a net margin of 15.41% and a return on equity of 7.70%. Sunstone Hotel Investors’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Equities research analysts anticipate that Sunstone Hotel Investors will post $0.69 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Thursday, September 28th. Sunstone Hotel Investors’s payout ratio is presently 25.64%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System boosted its position in Sunstone Hotel Investors by 1.1% in the fourth quarter. New York State Teachers Retirement System now owns 19,100 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 200 shares during the last quarter. GSA Capital Partners LLP bought a new position in Sunstone Hotel Investors during the fourth quarter worth approximately $166,000. Norges Bank bought a new position in Sunstone Hotel Investors during the fourth quarter worth approximately $31,167,000. Teachers Advisors LLC boosted its position in Sunstone Hotel Investors by 1.7% in the fourth quarter. Teachers Advisors LLC now owns 2,185,012 shares of the real estate investment trust’s stock worth $33,321,000 after buying an additional 36,966 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Sunstone Hotel Investors by 1,404.7% in the first quarter. Bank of Montreal Can now owns 429,333 shares of the real estate investment trust’s stock worth $6,581,000 after buying an additional 400,800 shares during the last quarter.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust. The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. It operates through hotel ownership segment. It owns primarily urban and resort upper upscale hotels in the United States.
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