Sunstone Hotel Investors (NYSE:SHO) Shares Gap Up to $9.51

Sunstone Hotel Investors, Inc. (NYSE:SHO) gapped up before the market opened on Wednesday . The stock had previously closed at $9.51, but opened at $9.81. Sunstone Hotel Investors shares last traded at $9.78, with a volume of 121,328 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SHO. Truist Financial cut their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Wolfe Research upgraded Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Wednesday, July 10th. Compass Point raised Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $12.00 in a report on Tuesday, May 7th. Baird R W raised shares of Sunstone Hotel Investors to a “strong-buy” rating in a research note on Tuesday, May 28th. Finally, StockNews.com cut shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.75.

Sunstone Hotel Investors Price Performance

The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 4.64 and a beta of 1.24. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average price is $10.17 and its 200-day moving average price is $10.52.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The business had revenue of $247.50 million for the quarter, compared to analysts’ expectations of $248.12 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.89 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, September 30th. Sunstone Hotel Investors’s payout ratio is 33.33%.

Institutional Trading of Sunstone Hotel Investors

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Sunstone Hotel Investors by 0.4% in the first quarter. Vanguard Group Inc. now owns 32,326,254 shares of the real estate investment trust’s stock valued at $360,114,000 after purchasing an additional 115,899 shares during the period. Franklin Resources Inc. boosted its stake in shares of Sunstone Hotel Investors by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 7,860,281 shares of the real estate investment trust’s stock valued at $84,341,000 after buying an additional 89,211 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Sunstone Hotel Investors by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,906,158 shares of the real estate investment trust’s stock worth $41,913,000 after buying an additional 88,949 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Sunstone Hotel Investors by 313.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock worth $41,565,000 after buying an additional 2,937,603 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Sunstone Hotel Investors by 7.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,281,393 shares of the real estate investment trust’s stock valued at $35,209,000 after acquiring an additional 236,708 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Company Profile

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.