Sunstone Hotel Investors Inc. (NYSE:SHO) was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Monday. They currently have a $11.00 target price on the stock. Morgan Stanley’s target price points to a potential downside of 12.00% from the company’s previous close.
Several other research firms also recently commented on SHO. Canaccord Genuity reiterated a “buy” rating on shares of Sunstone Hotel Investors in a research note on Tuesday, August 16th. FBR & Co set a $16.00 price objective on Sunstone Hotel Investors and gave the company a “buy” rating in a research note on Thursday, August 11th. TheStreet upgraded Sunstone Hotel Investors from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Citigroup Inc. upped their price objective on Sunstone Hotel Investors from $13.50 to $14.00 and gave the company a “neutral” rating in a research note on Monday, August 22nd. Finally, Zacks Investment Research upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. One 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 stock. The stock has an average rating of “Buy” and an average target price of $14.23.
Sunstone Hotel Investors (NYSE:SHO) opened at 12.45 on Monday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 7.64 and a beta of 1.19. The stock has a 50 day moving average price of $13.21 and a 200 day moving average price of $12.87. Sunstone Hotel Investors has a 52 week low of $9.53 and a 52 week high of $15.08.
Sunstone Hotel Investors (NYSE:SHO) last announced 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 return on equity of 15.15% and a net margin of 29.66%. The firm had revenue of $322.20 million for the quarter, compared to the consensus estimate of $323.40 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s revenue was down 5.0% compared to the same quarter last year. On average, equities analysts forecast that Sunstone Hotel Investors will post $1.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.60%. Sunstone Hotel Investors’s payout ratio is currently 12.20%.
In other news, Director Thomas A. Lewis sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $13.48, for a total value of $337,000.00. Following the transaction, the director now owns 57,963 shares of the company’s stock, valued at $781,341.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Marc Andrew Hoffman sold 10,000 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $13.92, for a total transaction of $139,200.00. Following the completion of the transaction, the chief operating officer now directly owns 236,709 shares in the company, valued at approximately $3,294,989.28. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in Sunstone Hotel Investors by 6,324.8% in the second quarter. BNP Paribas Arbitrage SA now owns 10,087 shares of the company’s stock valued at $122,000 after buying an additional 9,930 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sunstone Hotel Investors by 7.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,331 shares of the company’s stock valued at $125,000 after buying an additional 732 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Sunstone Hotel Investors during the second quarter valued at $139,000. Nuveen Fund Advisors LLC purchased a new position in Sunstone Hotel Investors during the second quarter valued at $155,000. Finally, KCG Holdings Inc. boosted its position in Sunstone Hotel Investors by 22.2% in the second quarter. KCG Holdings Inc. now owns 13,528 shares of the company’s stock valued at $163,000 after buying an additional 2,461 shares during the last quarter.
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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