Sunstone Hotel Investors Inc (NYSE:SHO) announced a quarterly dividend on Tuesday, February 13th, Wall Street Journal reports. Investors of record on Friday, March 30th will be paid a dividend of 0.05 per share by the real estate investment trust on Monday, April 16th. This represents a $0.20 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, March 28th.
Sunstone Hotel Investors has increased its dividend payment by an average of 50.4% per year over the last three years. Sunstone Hotel Investors has a payout ratio of 193.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Sunstone Hotel Investors to earn $1.20 per share next year, which means the company may not be able to cover its $2.32 annual dividend with an expected future payout ratio of 193.3%.
Shares of Sunstone Hotel Investors (NYSE SHO) traded down $0.03 during trading hours on Tuesday, reaching $15.77. 3,548,463 shares of the company traded hands, compared to its average volume of 1,797,675. Sunstone Hotel Investors has a twelve month low of $14.15 and a twelve month high of $17.46. The firm has a market cap of $3,569.10, a P/E ratio of 23.58, a P/E/G ratio of 2.63 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.76 and a quick ratio of 4.75.
In other Sunstone Hotel Investors news, CFO Bryan Albert Giglia sold 18,426 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $16.73, for a total value of $308,266.98. Following the transaction, the chief financial officer now directly owns 229,833 shares of the company’s stock, valued at approximately $3,845,106.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on SHO shares. Boenning Scattergood reiterated a “hold” rating on shares of Sunstone Hotel Investors in a research note on Wednesday, November 1st. FBR & Co reiterated a “hold” rating on shares of Sunstone Hotel Investors in a research note on Tuesday, October 31st. Robert W. Baird set a $17.00 price target on shares of Sunstone Hotel Investors and gave the company a “hold” rating in a report on Monday, October 23rd. Zacks Investment Research raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, B. Riley set a $16.00 price target on shares of Sunstone Hotel Investors and gave the company a “hold” rating in a report on Monday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Sunstone Hotel Investors presently has an average rating of “Hold” and a consensus price target of $16.06.
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About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. The Company operates through hotel ownership segment.
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