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

Sunstone Hotel Investors, Inc. (NYSE:SHO - Get Free Report) declared a quarterly dividend on Monday, May 6th, Zacks reports. Investors 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 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 raised its dividend by an average of 68.7% per year over the last three years and has raised its dividend every year for the last 1 years. Sunstone Hotel Investors has a payout ratio of 96.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Research 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 0.2 %

Shares of Sunstone Hotel Investors stock traded up $0.03 during trading on Tuesday, hitting $10.39. The company's stock had a trading volume of 2,307,542 shares, compared to its average volume of 1,912,323. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. Sunstone Hotel Investors has a 52 week low of $8.61 and a 52 week high of $11.59. The stock has a 50-day moving average price of $10.83 and a two-hundred day moving average price of $10.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.44. The company had revenue of $219.20 million during the quarter, compared to the consensus estimate of $192.56 million. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The firm's revenue was down 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. Equities research analysts anticipate that Sunstone Hotel Investors will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SHO shares. Compass Point raised shares of Sunstone Hotel Investors from a "sell" rating to a "neutral" rating and upped their price target for the company from $10.00 to $12.00 in a research report on Tuesday. StockNews.com raised Sunstone Hotel Investors from a "sell" rating to a "hold" rating in a research note on Thursday, March 21st. Finally, Truist Financial increased their price target on Sunstone Hotel Investors from $12.00 to $13.00 and gave the stock a "hold" rating in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, Sunstone Hotel Investors has an average rating of "Hold" and an average 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.