Sunstone Hotel Investors (NYSE:SHO) Hits New 12-Month High – Here’s Why

Sunstone Hotel Investors, Inc. (NYSE:SHO) reached a new 52-week high during trading on Monday . The company traded as high as $12.41 and last traded at $12.36, with a volume of 86309 shares trading hands. The stock had previously closed at $12.21.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price target on Sunstone Hotel Investors from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sunstone Hotel Investors currently has a consensus rating of “Hold” and an average price target of $12.20.

Sunstone Hotel Investors Price Performance

The stock has a market capitalization of $2.47 billion, a PE ratio of 16.07, a PEG ratio of 6.45 and a beta of 1.25. The company’s 50 day simple moving average is $10.69 and its 200 day simple moving average is $10.38. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results 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 net margin of 18.61% and a return on equity of 9.04%. The business had revenue of $226.40 million during the quarter, compared to analyst estimates of $224.61 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, equities analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 2.92%. Sunstone Hotel Investors’s dividend payout ratio is presently 42.11%.

Hedge Funds Weigh In On Sunstone Hotel Investors

Several institutional investors and hedge funds have recently made changes to their positions in SHO. New York State Teachers Retirement System boosted its holdings in shares of Sunstone Hotel Investors by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 294,316 shares of the real estate investment trust’s stock valued at $3,037,000 after buying an additional 1,386 shares during the period. Van ECK Associates Corp boosted its position in shares of Sunstone Hotel Investors by 5.5% during the 2nd quarter. Van ECK Associates Corp now owns 31,119 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,635 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Sunstone Hotel Investors by 12.1% in the second quarter. Evergreen Capital Management LLC now owns 17,479 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 1,881 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Sunstone Hotel Investors by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 1,937 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Sunstone Hotel Investors by 7.0% in the 2nd quarter. Truist Financial Corp now owns 47,223 shares of the real estate investment trust’s stock valued at $494,000 after purchasing an additional 3,098 shares during the last quarter. 99.37% of the stock is currently 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.