Sunstone Hotel Investors Inc. (SHO) Sees Strong Trading Volume
Shares of Sunstone Hotel Investors Inc. (NYSE:SHO) saw unusually-high trading volume on Thursday . Approximately 1,803,149 shares were traded 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 subject of a number of recent research reports. Canaccord Genuity raised shares of Sunstone Hotel Investors from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $15.00 in a research note on Friday, July 15th. Bank of America Corp. reissued a “buy” rating and issued a $14.50 price objective (up previously from $13.00) on shares of Sunstone Hotel Investors in a research note on Friday, May 20th. Zacks Investment Research downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. FBR & Co set a $16.00 price objective on shares of Sunstone Hotel Investors and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, BB&T Corp. initiated coverage on shares of Sunstone Hotel Investors in a research note on Wednesday, May 18th. They issued a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.41.
The firm’s 50 day moving average price is $13.51 and its 200 day moving average price is $12.91. The company has a market cap of $2.94 billion and a PE ratio of 8.32.
Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. During the same period in the previous year, the business posted $0.43 EPS. The company had revenue of $322.20 million for the quarter, compared to analysts’ expectations of $323.40 million. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. On average, equities research analysts predict that Sunstone Hotel Investors Inc. will post $1.19 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%.
In related news, insider Robert C. Springer sold 32,998 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $13.81, for a total transaction of $455,702.38. Following the completion of the transaction, the insider now owns 182,566 shares of the company’s stock, valued at approximately $2,521,236.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas A. Lewis sold 25,000 shares of the 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 transaction, 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.
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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