Sunstone Hotel Investors Sets New 12-Month High at $15.39 (SHO)
Sunstone Hotel Investors (NYSE:SHO) hit a new 52-week high during mid-day trading on Monday , Stock Ratings News reports. The stock traded as high as $15.39 and last traded at $15.16, with a volume of 503,387 shares traded. The stock had previously closed at $15.25.
A number of research firms have recently commented on SHO. Analysts at FBR Capital Markets raised their price target on shares of Sunstone Hotel Investors from $16.00 to $17.00 in a research note on Thursday, May 29th. They now have an “outperform” rating on the stock. Separately, analysts at Citigroup Inc. reiterated an “equal weight” rating on shares of Sunstone Hotel Investors in a research note on Wednesday, May 7th. They now have a $15.00 price target on the stock, up previously from $13.00. Finally, analysts at SunTrust raised their price target on shares of Sunstone Hotel Investors from $13.00 to $14.00 in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.39.
The stock’s 50-day moving average is $14.31 and its 200-day moving average is $13.5. The company has a market cap of $2.769 billion and a P/E ratio of 123.98.
Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.01. The company had revenue of $243.48 million for the quarter, compared to the consensus estimate of $235.06 million. During the same quarter last year, the company posted $0.09 earnings per share. Sunstone Hotel Investors’s revenue was up 24.9% compared to the same quarter last year. On average, analysts predict that Sunstone Hotel Investors will post $1.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Thursday, June 26th.
In other Sunstone Hotel Investors news, CEO Kenneth Edward Cruse bought 4,000 shares of the stock on the open market in a transaction dated Tuesday, June 3rd. The shares were purchased at an average cost of $14.79 per share, for a total transaction of $59,160.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Sunstone Hotel Investors, Inc is a real estate investment trust (NYSE:SHO).
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