Sunstone Hotel Investors, Inc. (NYSE:SHO) Declares Quarterly Dividend of $0.09

Sunstone Hotel Investors, Inc. (NYSE:SHO) announced a quarterly dividend on Monday, May 6th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.09 per share by the real estate investment trust on Monday, July 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Friday, June 28th. This is an increase from Sunstone Hotel Investors’s previous quarterly dividend of $0.07.

Sunstone Hotel Investors has increased its dividend payment by an average of 68.7% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Sunstone Hotel Investors has a payout ratio of 96.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Sunstone Hotel Investors to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 29.5%.

Sunstone Hotel Investors Trading Up 1.7 %

NYSE:SHO opened at $10.36 on Tuesday. The company has a fifty day moving average of $10.83 and a 200 day moving average of $10.52. Sunstone Hotel Investors has a 52 week low of $8.61 and a 52 week high of $11.59. The company has a quick ratio of 7.03, a current ratio of 7.03 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.11 billion, a P/E ratio of 11.14, a P/E/G ratio of 3.98 and a beta of 1.22.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.44. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. The company had revenue of $219.20 million during the quarter, compared to analyst estimates of $192.56 million. During the same period in the prior year, the business posted $0.26 EPS. The firm’s revenue was down 10.2% compared to the same quarter last year. On average, research analysts predict that Sunstone Hotel Investors will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on SHO shares. StockNews.com raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Truist Financial lifted their price target on shares of Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Thursday, March 14th. Finally, Compass Point upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Tuesday. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.50.

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.