Zacks Investment Research upgraded shares of Sunstone Hotel Investors (NYSE:SHO) from a sell rating to a hold rating in a report published on Tuesday morning.
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. “
Other analysts also recently issued research reports about the stock. Barclays downgraded shares of Sunstone Hotel Investors from an overweight rating to an equal weight rating and cut their price target for the stock from $18.00 to $16.00 in a report on Tuesday, December 18th. Deutsche Bank set a $16.00 price target on shares of Sunstone Hotel Investors and gave the stock a hold rating in a report on Tuesday, November 6th. Finally, Wells Fargo & Co dropped their target price on shares of Sunstone Hotel Investors from $17.50 to $16.00 and set a market perform rating for the company in a report on Thursday, November 15th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $16.75.
Shares of NYSE SHO opened at $14.07 on Tuesday. The company has a market cap of $3.23 billion, a PE ratio of 12.30, a PEG ratio of 2.13 and a beta of 1.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.36 and a quick ratio of 6.35. Sunstone Hotel Investors has a 1 year low of $12.70 and a 1 year high of $17.60.
Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.10. The business had revenue of $289.30 million during the quarter, compared to the consensus estimate of $291.19 million. Sunstone Hotel Investors had a net margin of 16.56% and a return on equity of 7.84%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. On average, sell-side analysts expect that Sunstone Hotel Investors will post 1.15 EPS for the current fiscal year.
The business also recently announced a special dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were issued a $0.54 dividend. The ex-dividend date was Friday, December 28th. This represents a yield of 1.44%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 177.05%.
Large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of Sunstone Hotel Investors by 25.7% in the second quarter. Bank of America Corp DE now owns 635,622 shares of the real estate investment trust’s stock worth $10,564,000 after acquiring an additional 129,932 shares in the last quarter. American International Group Inc. grew its stake in shares of Sunstone Hotel Investors by 3.0% in the third quarter. American International Group Inc. now owns 151,453 shares of the real estate investment trust’s stock worth $2,478,000 after acquiring an additional 4,446 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Sunstone Hotel Investors by 0.7% in the third quarter. Teachers Advisors LLC now owns 2,383,592 shares of the real estate investment trust’s stock worth $38,996,000 after acquiring an additional 17,224 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Sunstone Hotel Investors in the third quarter worth $358,000. Finally, BlackRock Inc. grew its stake in shares of Sunstone Hotel Investors by 2.4% in the third quarter. BlackRock Inc. now owns 23,556,116 shares of the real estate investment trust’s stock worth $385,377,000 after acquiring an additional 549,531 shares in the last quarter.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of November 5, 2018 has interests in 22 hotels comprised of 11,176 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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