Sunstone Hotel Investors (NYSE:SHO) Downgraded by StockNews.com

StockNews.com downgraded shares of Sunstone Hotel Investors (NYSE:SHO) from a hold rating to a sell rating in a report issued on Wednesday.

A number of other equities analysts also recently issued reports on the stock. Robert W. Baird raised shares of Sunstone Hotel Investors from a neutral rating to an outperform rating and lifted their price objective for the stock from $11.00 to $12.00 in a report on Tuesday, May 28th. Compass Point raised shares of Sunstone Hotel Investors from a sell rating to a neutral rating and lifted their price objective for the stock 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 report on Tuesday, May 28th. Finally, Truist Financial cut their price objective on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a hold rating on the stock in a report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sunstone Hotel Investors presently has a consensus rating of Hold and a consensus price target of $10.57.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $9.96 on Wednesday. The company has a fifty day simple moving average of $10.35 and a 200 day simple moving average of $10.64. Sunstone Hotel Investors has a 12-month low of $8.61 and a 12-month high of $11.59. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.03 billion, a P/E ratio of 11.09, a PEG ratio of 4.81 and a beta of 1.23.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.11). Sunstone Hotel Investors had a net margin of 20.69% and a return on equity of 10.75%. The business had revenue of $217.17 million during the quarter, compared to analyst estimates of $212.00 million. Sell-side analysts predict that Sunstone Hotel Investors will post 0.89 earnings per share for the current fiscal year.

Sunstone Hotel Investors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.09 dividend. This is an increase from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, June 28th. Sunstone Hotel Investors’s payout ratio is 28.89%.

Hedge Funds Weigh In On Sunstone Hotel Investors

A number of hedge funds and other institutional investors have recently made changes to their positions in SHO. The Manufacturers Life Insurance Company raised its stake in Sunstone Hotel Investors by 7.8% in the 4th 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 during the period. Norges Bank bought a new stake in Sunstone Hotel Investors in the 4th quarter valued at about $14,656,000. Balyasny Asset Management L.P. raised its stake in Sunstone Hotel Investors by 313.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock valued at $41,565,000 after acquiring an additional 2,937,603 shares during the period. Rush Island Management LP raised its stake in Sunstone Hotel Investors by 30.3% in the 3rd quarter. Rush Island Management LP now owns 9,579,732 shares of the real estate investment trust’s stock valued at $89,570,000 after acquiring an additional 2,225,579 shares during the period. Finally, Wolverine Asset Management LLC raised its stake in Sunstone Hotel Investors by 312.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 86,995 shares of the real estate investment trust’s stock valued at $813,000 after acquiring an additional 65,924 shares during the period. 99.37% of the stock is owned by hedge funds and other institutional investors.

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.