Sunstone Hotel Investors, Inc. (NYSE:SHO – Get Free Report) declared a quarterly dividend on Monday, May 4th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.09 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, June 30th.
Sunstone Hotel Investors has increased its dividend by an average of 0.5%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Sunstone Hotel Investors has a payout ratio of 189.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Sunstone Hotel Investors to earn $0.98 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 36.7%.
Sunstone Hotel Investors Stock Up 2.0%
Shares of NYSE:SHO opened at $11.83 on Friday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 107.57, a PEG ratio of 2.67 and a beta of 0.98. The stock has a fifty day simple moving average of $10.74 and a two-hundred day simple moving average of $9.73. Sunstone Hotel Investors has a 12-month low of $8.48 and a 12-month high of $12.07. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 0.58.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on SHO shares. Citigroup lifted their price objective on Sunstone Hotel Investors from $9.50 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday. Wall Street Zen raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research raised shares of Sunstone Hotel Investors from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Finally, LADENBURG THALM/SH SH assumed coverage on Sunstone Hotel Investors in a research report on Thursday, March 26th. They issued a “hold” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.83.
Read Our Latest Stock Report on Sunstone Hotel Investors
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc (NYSE:SHO) is a publicly traded real estate investment trust (REIT) focused on acquiring, owning and asset‐managing upper‐upscale extended‐stay and premium‐branded hotel properties in the United States. The company’s business model centers on generating stable, long‐term cash flows through franchise agreements and third‐party management contracts with established hotel operators.
As of the most recent reporting period, Sunstone’s portfolio includes approximately 97 hotels and nearly 25,000 guest rooms across 19 states, with concentrations in major metropolitan and select high‐growth secondary markets.
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