The stock of Sunstone Hotel Investors Inc. (NYSE:SHO) last traded at $9.82, up 0.20% from the previous session.
Data from the available sources indicates that Sunstone Hotel Investors Inc. (NYSE:SHO) is covered by 12 analysts. The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $11.50 and a low of $9.00, we find $10.00. Given the previous closing price of $9.80, this indicates a potential upside of 2.04 percent. SHO stock price is now -3.48% away from the 50-day moving average and -3.29% away from the 200-day moving average. The market capitalization of the company currently stands at $2.03B.
In total, 8 analysts have assigned it a hold rating, and 0 have given it a buy rating. Brokers who have rated the stock have averaged $10.32 as their price target over the next twelve months.
With the price target enhanced from $9 to $10, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Sunstone Hotel Investors Inc. (NYSE: SHO).
Insiders disposed of 235,145 shares of company stock worth roughly $2.31 million over the past 1 year. A total of 0.99% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SHO stock. A new stake in Sunstone Hotel Investors Inc. shares was purchased by WATERFRONT CAPITAL PARTNERS, LLC during the first quarter worth $20,601,000. POINT72 ASSET MANAGEMENT, L.P. invested $11,162,000 in shares of SHO during the first quarter. In the first quarter, CAPITAL GROWTH MANAGEMENT LP acquired a new stake in Sunstone Hotel Investors Inc. valued at approximately $6,874,000. CINCTIVE CAPITAL MANAGEMENT LP acquired a new stake in SHO for approximately $4,935,000. ERGOTELES LLC purchased a new stake in SHO valued at around $2,670,000 in the second quarter. In total, there are 348 active investors with 111.61% ownership of the company’s stock.
With an opening price of $9.87 on Friday morning, Sunstone Hotel Investors Inc. (NYSE: SHO) set off the trading day. During the past 12 months, Sunstone Hotel Investors Inc. has had a low of $8.60 and a high of $12.33. As of last week, the company has a debt-to-equity ratio of 0.45, a current ratio of 0.50, and a quick ratio of 0.50. According to the stock market information, the enterprise value for the company is $3.05B, which is based on a 25.98 price-to-earnings ratio, a 1.31 price-to-earnings-growth ratio, and a beta of 1.29. The fifty day moving average price for SHO is $10.16 and a two-hundred day moving average price translates $10.16 for the stock.
The latest earnings results from Sunstone Hotel Investors Inc. (NYSE: SHO) was released for Mar, 2023. According to the REIT – Hotel & Motel Company, earnings per share came in at $0.08, beating analysts’ expectations of $0.01 by 0.07. This compares to $0.07 EPS in the same period last year. The company reported revenue of $243.44 million for the quarter, compared to $172.31 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 41.28 percent. For the current quarter, analysts expect SHO to generate $275.74M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/17/2023. Investors who held shares on 06/30/2023 were paid a $0.05 dividend. On an annualized basis, this represents a $0.20 dividend and a 2.04% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend.
Sunstone Hotel Investors Inc.(SHO) Company Profile
Sunstone Hotel Investors, Inc. is a lodging real estate investment trust (“REIT”) that as of the date of this release owns 15 hotels comprised of 7,735 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 hotels considered to be Long-Term Relevant Real Estate.
