Zacks Investment Research cut shares of Sunstone Hotel Investors (NYSE:SHO) from a hold rating to a sell rating in a research report report published on Tuesday.
According to Zacks, “Sunstone Hotel Investors, Inc. is a Southern California-based lodging real estate company that expects to qualify as a real estate investment trust for federal income tax purposes. The Company owns hotels primarily in the upper-upscale and upscale segments primarily operated under franchises owned nationally-recognized companies, such as Marriott, Hilton, InterContinental and Hyatt. “
Shares of NYSE SHO traded up $0.07 during trading hours on Tuesday, reaching $14.64. 1,622,920 shares of the stock were exchanged, compared to its average volume of 1,415,350. The firm has a market cap of $3.33 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 2.80 and a beta of 1.02. The company has a current ratio of 5.62, a quick ratio of 5.61 and a debt-to-equity ratio of 0.40. Sunstone Hotel Investors has a 52 week low of $14.09 and a 52 week high of $17.60.
Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Monday, July 30th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.16). The firm had revenue of $317.40 million for the quarter, compared to the consensus estimate of $317.54 million. Sunstone Hotel Investors had a return on equity of 4.26% and a net margin of 10.08%. Sunstone Hotel Investors’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. Analysts forecast that Sunstone Hotel Investors will post 1.13 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.37%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 16.39%.
Several hedge funds and other institutional investors have recently made changes to their positions in SHO. Dimensional Fund Advisors LP increased its stake in shares of Sunstone Hotel Investors by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,485,230 shares of the real estate investment trust’s stock worth $53,045,000 after purchasing an additional 106,129 shares during the period. Hsbc Holdings PLC increased its stake in Sunstone Hotel Investors by 14.0% during the 1st quarter. Hsbc Holdings PLC now owns 30,218 shares of the real estate investment trust’s stock worth $460,000 after acquiring an additional 3,702 shares during the period. GSA Capital Partners LLP bought a new position in Sunstone Hotel Investors during the 1st quarter worth $360,000. Jane Street Group LLC bought a new position in Sunstone Hotel Investors during the 1st quarter worth $408,000. Finally, Guggenheim Capital LLC increased its stake in Sunstone Hotel Investors by 14.8% during the 1st quarter. Guggenheim Capital LLC now owns 212,876 shares of the real estate investment trust’s stock worth $3,239,000 after acquiring an additional 27,411 shares during the period.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of July 30, 2018 has interests in 24 hotels comprised of 12,046 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be Long-Term Relevant Real Estate, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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