Sunstone Hotel Investors Inc (NYSE:SHO) announced a quarterly dividend on Tuesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, June 29th will be paid a dividend of 0.05 per share by the real estate investment trust on Monday, July 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, June 28th.
Sunstone Hotel Investors has increased its dividend by an average of 50.4% annually over the last three years. Sunstone Hotel Investors has a payout ratio of 193.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Sunstone Hotel Investors to earn $1.19 per share next year, which means the company may not be able to cover its $2.32 annual dividend with an expected future payout ratio of 195.0%.
Sunstone Hotel Investors stock opened at $16.85 on Friday. The stock has a market capitalization of $3.81 billion, a P/E ratio of 13.81, a PEG ratio of 2.62 and a beta of 1.10. Sunstone Hotel Investors has a 12-month low of $14.09 and a 12-month high of $17.60. The company has a current ratio of 5.24, a quick ratio of 5.23 and a debt-to-equity ratio of 0.42.
Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Monday, May 7th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.04). The firm had revenue of $271.45 million during the quarter, compared to the consensus estimate of $263.09 million. Sunstone Hotel Investors had a net margin of 10.28% and a return on equity of 4.41%. Sunstone Hotel Investors’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 EPS. equities analysts predict that Sunstone Hotel Investors will post 1.14 earnings per share for the current fiscal year.
SHO has been the topic of several recent research reports. Zacks Investment Research upgraded Sunstone Hotel Investors from a “sell” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Saturday, April 28th. Boenning Scattergood reiterated a “buy” rating and issued a $17.00 price target on shares of Sunstone Hotel Investors in a report on Wednesday, May 9th. Jefferies Financial Group initiated coverage on Sunstone Hotel Investors in a report on Thursday, May 31st. They issued a “hold” rating and a $17.00 price target on the stock. Barclays raised their price target on Sunstone Hotel Investors from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, June 1st. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Sunstone Hotel Investors in a report on Friday, June 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.94.
Sunstone Hotel Investors Company Profile
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of May 7, 2018 has interests in 25 hotels comprised of 12,450 rooms. Sunstone's hotels are primarily in the urban and resort upper upscale segment and are predominantly operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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