Morgan Stanley restated their underweight rating on shares of Sunstone Hotel Investors (NYSE:SHO – Free Report) in a report released on Tuesday, Marketbeat.com reports. They currently have a $10.00 price objective on the real estate investment trust’s stock.
Other research analysts have also issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Sunstone Hotel Investors from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Jefferies Financial Group upped their price target on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.86.
Read Our Latest Report on Sunstone Hotel Investors
Sunstone Hotel Investors Stock Performance
Sunstone Hotel Investors (NYSE:SHO – Get Free Report) last announced its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company had revenue of $226.40 million for the quarter, compared to the consensus estimate of $224.61 million. During the same period last year, the firm posted $0.23 EPS. The company’s revenue was down 8.6% compared to the same quarter last year. On average, equities analysts expect that Sunstone Hotel Investors will post 0.79 EPS for the current year.
Sunstone Hotel Investors Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Tuesday, December 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 44.74%.
Institutional Investors Weigh In On Sunstone Hotel Investors
A number of institutional investors have recently added to or reduced their stakes in the stock. Heritage Family Offices LLP lifted its position in shares of Sunstone Hotel Investors by 7.2% during the 4th quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 969 shares during the period. Diversified Trust Co lifted its holdings in shares of Sunstone Hotel Investors by 13.7% during the fourth quarter. Diversified Trust Co now owns 40,697 shares of the real estate investment trust’s stock valued at $482,000 after acquiring an additional 4,897 shares during the period. GAMMA Investing LLC boosted its stake in shares of Sunstone Hotel Investors by 114.1% in the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,743 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sunstone Hotel Investors by 31.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock worth $49,284,000 after purchasing an additional 1,130,558 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Sunstone Hotel Investors by 11.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust’s stock worth $11,566,000 after purchasing an additional 116,058 shares in the last quarter. 99.37% of the stock is owned by institutional investors and hedge funds.
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.
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