Sunstone Hotel Investors Inc. (SHO) Sees Unusually-High Trading Volume
Sunstone Hotel Investors Inc. (NYSE:SHO) saw unusually-high trading volume on Thursday . Approximately 1,803,149 shares changed hands during trading, an increase of 1% from the previous session’s volume of 1,780,712 shares.The stock last traded at $13.68 and had previously closed at $13.89.
SHO has been the topic of a number of research reports. Canaccord Genuity raised Sunstone Hotel Investors from a “hold” rating to a “buy” rating and raised their price target for the stock from $14.00 to $15.00 in a report on Friday, July 15th. TheStreet lowered Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Bank of America Corp. reaffirmed a “buy” rating and issued a $14.50 price objective (up previously from $13.00) on shares of Sunstone Hotel Investors in a report on Friday, May 20th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $14.00 price objective on shares of Sunstone Hotel Investors in a report on Monday, June 27th. Finally, Zacks Investment Research lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Sunstone Hotel Investors currently has an average rating of “Buy” and a consensus target price of $14.41.
The company has a market capitalization of $2.94 billion and a PE ratio of 8.32. The stock has a 50-day moving average of $13.47 and a 200 day moving average of $12.90.
Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The business earned $322.20 million during the quarter, compared to the consensus estimate of $323.40 million. During the same period in the prior year, the firm earned $0.43 EPS. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year. Analysts predict that Sunstone Hotel Investors Inc. will post $1.19 earnings per share for the current fiscal year.
The firm also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, September 28th.
In other Sunstone Hotel Investors news, Director Keith Locker sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $11.80, for a total transaction of $118,000.00. Following the sale, the director now directly owns 50,703 shares of the company’s stock, valued at $598,295.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas A. Lewis sold 25,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 57,963 shares in the company, valued at $781,341.24. The disclosure for this sale can be found here.
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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