Sunstone Hotel Investors Inc. (SHO) Given Consensus Recommendation of “Buy” by Analysts
Shares of Sunstone Hotel Investors Inc. (NYSE:SHO) have received a consensus rating of “Buy” from the sixteen analysts that are covering the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $14.15.
SHO has been the topic of a number of research reports. Morgan Stanley downgraded shares of Sunstone Hotel Investors from an “equal weight” rating to an “underweight” rating and set a $11.00 target price on the stock. in a report on Monday, September 26th. Canaccord Genuity restated a “buy” rating on shares of Sunstone Hotel Investors in a report on Tuesday, August 16th. Zacks Investment Research downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. FBR & Co set a $16.00 price target on shares of Sunstone Hotel Investors and gave the company a “buy” rating in a report on Thursday, August 11th. Finally, TheStreet upgraded shares of Sunstone Hotel Investors from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th.
In other news, COO Marc Andrew Hoffman sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $13.92, for a total value of $139,200.00. Following the completion of the sale, the chief operating officer now owns 236,709 shares of the company’s stock, valued at approximately $3,294,989.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Lewis sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $13.48, for a total transaction of $337,000.00. Following the completion of the sale, the director now directly owns 57,963 shares of the company’s stock, valued at approximately $781,341.24. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.
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Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Sunstone Hotel Investors by 53.5% in the second quarter. Bank of New York Mellon Corp now owns 7,673,801 shares of the company’s stock valued at $92,622,000 after buying an additional 2,673,944 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Sunstone Hotel Investors by 116.8% in the second quarter. Nuveen Asset Management LLC now owns 3,689,775 shares of the company’s stock worth $44,536,000 after buying an additional 1,987,668 shares during the last quarter. Vanguard Group Inc. boosted its stake in Sunstone Hotel Investors by 5.9% in the second quarter. Vanguard Group Inc. now owns 33,464,939 shares of the company’s stock worth $403,921,000 after buying an additional 1,854,945 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Sunstone Hotel Investors during the second quarter worth approximately $21,575,000. Finally, Goldman Sachs Group Inc. boosted its stake in Sunstone Hotel Investors by 258.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,141,390 shares of the company’s stock worth $29,979,000 after buying an additional 1,543,670 shares during the last quarter.
Shares of Sunstone Hotel Investors (NYSE:SHO) traded down 2.043% during mid-day trading on Tuesday, reaching $12.705. 868,189 shares of the company’s stock traded hands. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 7.794 and a beta of 1.24. Sunstone Hotel Investors has a 12-month low of $9.53 and a 12-month high of $15.08. The stock has a 50-day moving average price of $12.99 and a 200 day moving average price of $12.84.
Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Monday, August 8th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Sunstone Hotel Investors had a net margin of 29.66% and a return on equity of 15.15%. The firm had revenue of $322.20 million for the quarter, compared to the consensus estimate of $323.40 million. During the same period in the previous year, the firm posted $0.43 EPS. The business’s quarterly revenue was down 5.0% on a year-over-year basis. Analysts anticipate that Sunstone Hotel Investors will post $1.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.05 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.54%. Sunstone Hotel Investors’s payout ratio is presently 12.20%.
Sunstone Hotel Investors Company Profile
Sunstone Hotel Investors, Inc is a self-managed and self-administered real estate investment trust (REIT). The Company’s business is to acquire, own, asset manage and renovate full-service hotel and select focus-service hotel properties in the United States. The Company operates through hotel ownership segment.
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