Sunstone Hotel Investors’ (SHO) “Hold” Rating Reiterated at Robert W. Baird
Robert W. Baird reiterated their hold rating on shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) in a report released on Thursday. Robert W. Baird currently has a $17.00 target price on the real estate investment trust’s stock.
SHO has been the subject of several other research reports. BidaskClub cut Sunstone Hotel Investors from a hold rating to a sell rating in a research report on Friday, August 25th. Zacks Investment Research raised Sunstone Hotel Investors from a hold rating to a buy rating and set a $18.00 price objective for the company in a research report on Friday, June 23rd. Finally, Canaccord Genuity boosted their price objective on Sunstone Hotel Investors from $17.00 to $18.00 and gave the stock a buy rating in a research report on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Sunstone Hotel Investors currently has an average rating of Hold and a consensus target price of $15.80.
Shares of Sunstone Hotel Investors (NYSE:SHO) opened at 15.84 on Thursday. The firm’s 50-day moving average price is $15.72 and its 200-day moving average price is $15.65. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 20.54 and a beta of 1.17. Sunstone Hotel Investors has a 52 week low of $12.14 and a 52 week high of $16.86.
Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. Sunstone Hotel Investors had a return on equity of 7.70% and a net margin of 15.41%. The business had revenue of $318.80 million during the quarter, compared to analysts’ expectations of $316.96 million. During the same quarter in the previous year, the firm earned $0.39 EPS. The firm’s revenue was down 1.0% compared to the same quarter last year. Equities research analysts expect that Sunstone Hotel Investors will post $0.69 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.20 annualized dividend and a yield of 1.26%. Sunstone Hotel Investors’s dividend payout ratio is 25.64%.
A number of institutional investors and hedge funds have recently modified their holdings of SHO. BlackRock Inc. increased its stake in Sunstone Hotel Investors by 5,722.3% during the first quarter. BlackRock Inc. now owns 19,544,184 shares of the real estate investment trust’s stock valued at $299,613,000 after acquiring an additional 19,208,506 shares during the period. Vanguard Group Inc. increased its stake in Sunstone Hotel Investors by 4.5% during the second quarter. Vanguard Group Inc. now owns 37,717,053 shares of the real estate investment trust’s stock valued at $607,999,000 after acquiring an additional 1,619,745 shares during the period. Franklin Resources Inc. increased its stake in Sunstone Hotel Investors by 41.8% during the second quarter. Franklin Resources Inc. now owns 5,061,301 shares of the real estate investment trust’s stock valued at $81,588,000 after acquiring an additional 1,490,802 shares during the period. Frontier Capital Management Co. LLC increased its stake in Sunstone Hotel Investors by 43.3% during the second quarter. Frontier Capital Management Co. LLC now owns 4,184,909 shares of the real estate investment trust’s stock valued at $67,461,000 after acquiring an additional 1,263,508 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Sunstone Hotel Investors by 49.3% during the second quarter. Ameriprise Financial Inc. now owns 2,643,022 shares of the real estate investment trust’s stock valued at $42,605,000 after acquiring an additional 873,060 shares during the period.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust. The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. It operates through hotel ownership segment. It owns primarily urban and resort upper upscale hotels in the United States.
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