Sunstone Hotel Investors, Inc. (NYSE:SHO) Declares $0.09 Quarterly Dividend

Sunstone Hotel Investors, Inc. (NYSE:SHO) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.09 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Tuesday, December 31st.

Sunstone Hotel Investors has increased its dividend payment by an average of 68.7% annually over the last three years. Sunstone Hotel Investors has a payout ratio of 133.3% meaning 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 $0.97 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 37.1%.

Sunstone Hotel Investors Trading Up 0.1 %

Shares of NYSE:SHO traded up $0.01 on Thursday, hitting $10.45. 113,588 shares of the company’s stock were exchanged, compared to its average volume of 2,037,964. The business’s 50 day simple moving average is $10.33 and its two-hundred day simple moving average is $10.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 3.75. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 6.11 and a beta of 1.25. Sunstone Hotel Investors has a 12 month low of $9.39 and a 12 month high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The firm had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $224.61 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. Analysts anticipate that Sunstone Hotel Investors will post 0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SHO has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a report on Friday, September 13th. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.42.

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.