Sunstone Hotel Investors Inc. (SHO) Sees Large Volume Increase
Sunstone Hotel Investors Inc. (NYSE:SHO) saw strong trading volume on Wednesday . 1,951,321 shares traded hands during trading, a decline of 17% from the previous session’s volume of 2,363,518 shares.The stock last traded at $12.44 and had previously closed at $12.84.
Several brokerages have issued reports on SHO. Zacks Investment Research raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Wednesday, April 6th. Evercore ISI cut shares of Sunstone Hotel Investors from a “buy” rating to a “hold” rating and set a $13.50 target price for the company. in a report on Monday, March 21st. BB&T Corp. began coverage on shares of Sunstone Hotel Investors in a report on Wednesday, May 18th. They issued a “hold” rating for the company. FBR & Co reaffirmed a “buy” rating on shares of Sunstone Hotel Investors in a report on Monday, May 2nd. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $14.00 target price on shares of Sunstone Hotel Investors in a report on Monday, June 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.50.
The firm has a market capitalization of $2.71 billion and a P/E ratio of 7.78. The stock’s 50 day moving average is $12.04 and its 200 day moving average is $12.43.
Sunstone Hotel Investors (NYSE:SHO) last issued its earnings results on Monday, May 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business had revenue of $274.30 million for the quarter, compared to the consensus estimate of $277.91 million. During the same quarter in the previous year, the company earned $0.22 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Equities research analysts predict that Sunstone Hotel Investors Inc. will post $1.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, June 28th.
In other news, Director Keith P. Russell sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $11.54, for a total value of $115,400.00. Following the sale, the director now directly owns 69,491 shares in the company, valued at approximately $801,926.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David Ryan Sloan sold 35,209 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $12.44, for a total transaction of $437,999.96. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its stake in Sunstone Hotel Investors by 30.0% in the fourth quarter. First Trust Advisors LP now owns 99,344 shares of the company’s stock worth $1,241,000 after buying an additional 22,951 shares in the last quarter. ProShare Advisors LLC boosted its stake in Sunstone Hotel Investors by 21.2% in the fourth quarter. ProShare Advisors LLC now owns 105,749 shares of the company’s stock worth $1,321,000 after buying an additional 18,463 shares in the last quarter. Shell Asset Management Co. purchased a new stake in Sunstone Hotel Investors during the fourth quarter worth $1,492,000. Bank of Montreal Can boosted its stake in Sunstone Hotel Investors by 873.3% in the fourth quarter. Bank of Montreal Can now owns 184,034 shares of the company’s stock worth $2,299,000 after buying an additional 165,125 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in Sunstone Hotel Investors by 40.5% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 296,558 shares of the company’s stock worth $3,704,000 after buying an additional 85,410 shares in the last quarter.
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.