Sunstone Hotel Investors Inc (NYSE:SHO) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.05 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, September 27th.
Sunstone Hotel Investors has increased its dividend by an average of 12.7% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Sunstone Hotel Investors has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sunstone Hotel Investors to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 18.5%.
Shares of NYSE SHO traded up $0.10 during midday trading on Wednesday, hitting $13.74. 1,191,083 shares of the company’s stock were exchanged, compared to its average volume of 2,090,178. Sunstone Hotel Investors has a 12-month low of $12.54 and a 12-month high of $16.45. The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt-to-equity ratio of 0.41. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.11 and a beta of 1.05. The business’s fifty day moving average price is $13.38 and its two-hundred day moving average price is $13.88.
A number of analysts recently weighed in on the company. TheStreet downgraded Sunstone Hotel Investors from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. Wells Fargo & Co upgraded Sunstone Hotel Investors from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a research report on Thursday, June 27th. Wedbush upgraded Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 26th. Zacks Investment Research upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, ValuEngine downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Sunstone Hotel Investors presently has a consensus rating of “Hold” and a consensus price target of $14.25.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of February 12, 2019 has interests in 21 hotels comprised of 10,780 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.
Recommended Story: Are all No-Load Funds Equal?
Receive News & Ratings for Sunstone Hotel Investors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunstone Hotel Investors and related companies with MarketBeat.com's FREE daily email newsletter.