Sunstone Hotel Investors (NYSE:SHO) Reaches New 52-Week Low – Here’s Why

Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) reached a new 52-week low during trading on Friday . The company traded as low as $9.39 and last traded at $9.48, with a volume of 1003458 shares. The stock had previously closed at $9.69.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Wells Fargo & Company dropped their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Jefferies Financial Group boosted their target price on Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Finally, Truist Financial lowered their target price on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.57.

Sunstone Hotel Investors Trading Down 2.2 %

The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.91 billion, a PE ratio of 12.47, a P/E/G ratio of 4.52 and a beta of 1.19. The business’s fifty day moving average price is $10.70 and its 200 day moving average price is $10.87.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $214.77 million during the quarter, compared to the consensus estimate of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. As a group, analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio is currently 257.14%.

Institutional Investors Weigh In On Sunstone Hotel Investors

Institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Sunstone Hotel Investors by 645.6% in the 4th quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust’s stock valued at $98,929,000 after purchasing an additional 7,234,862 shares during the last quarter. Bank of America Corp DE boosted its holdings in Sunstone Hotel Investors by 23.0% in the fourth quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust’s stock valued at $77,760,000 after acquiring an additional 1,229,769 shares during the last quarter. Geode Capital Management LLC grew its position in Sunstone Hotel Investors by 2.1% during the third quarter. Geode Capital Management LLC now owns 5,247,927 shares of the real estate investment trust’s stock valued at $54,169,000 after acquiring an additional 109,327 shares during the period. JPMorgan Chase & Co. increased its stake in Sunstone Hotel Investors by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock worth $49,284,000 after acquiring an additional 1,130,558 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its stake in Sunstone Hotel Investors by 22.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust’s stock worth $55,488,000 after acquiring an additional 851,104 shares during the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

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.