Sunstone Hotel Investors (NYSE:SHO) Hits New 1-Year High on Analyst Upgrade

Sunstone Hotel Investors, Inc. (NYSE:SHO)’s share price hit a new 52-week high during trading on Monday after Wells Fargo & Company raised their price target on the stock from $11.00 to $13.00. Wells Fargo & Company currently has an equal weight rating on the stock. Sunstone Hotel Investors traded as high as $12.20 and last traded at $12.20, with a volume of 385 shares trading hands. The stock had previously closed at $12.07.

Hedge Funds Weigh In On Sunstone Hotel Investors

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Sunstone Hotel Investors by 2.1% in the third quarter. Geode Capital Management LLC now owns 5,247,927 shares of the real estate investment trust’s stock valued at $54,169,000 after purchasing an additional 109,327 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Sunstone Hotel Investors by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,081,978 shares of the real estate investment trust’s stock valued at $42,126,000 after purchasing an additional 117,390 shares during the last quarter. Westwood Holdings Group Inc. grew its position in shares of Sunstone Hotel Investors by 1.9% during the second quarter. Westwood Holdings Group Inc. now owns 2,818,270 shares of the real estate investment trust’s stock worth $29,479,000 after acquiring an additional 51,203 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Sunstone Hotel Investors by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 2,651,189 shares of the real estate investment trust’s stock worth $27,731,000 after acquiring an additional 25,086 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Sunstone Hotel Investors by 368.0% during the second quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock worth $18,489,000 after acquiring an additional 1,389,917 shares during the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a market capitalization of $2.46 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 6.41 and a beta of 1.25. The business’s 50-day moving average price is $10.58 and its 200-day moving average price is $10.34.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The business’s revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. As a group, analysts expect that Sunstone Hotel Investors, Inc. will post 0.78 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a yield of 2.94%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 44.74%.

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.