Sunstone Hotel Investors (NYSE:SHO) Sets New 52-Week Low - Here's What Happened

Sunstone Hotel Investors, Inc. (NYSE:SHO - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.06 and last traded at $8.33, with a volume of 3218093 shares. The stock had previously closed at $8.21.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SHO shares. Evercore ISI cut their price objective on shares of Sunstone Hotel Investors from $12.00 to $10.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Truist Financial reduced their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a report on Friday, March 21st. Jefferies Financial Group dropped their price objective on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company reduced their target price 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. Finally, Morgan Stanley dropped their price target on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.44.

Sunstone Hotel Investors Price Performance

The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 4.52 and a beta of 1.16. The business has a 50-day moving average price of $9.14 and a two-hundred day moving average price of $10.50.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $214.77 million during the quarter, compared to analysts' expectations of $211.17 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. As a group, research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio is currently 257.14%.

Hedge Funds Weigh In On Sunstone Hotel Investors

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Sunstone Hotel Investors by 5.2% in the first quarter. Principal Financial Group Inc. now owns 8,793,005 shares of the real estate investment trust's stock valued at $82,742,000 after acquiring an additional 437,433 shares in the last quarter. Bank of America Corp DE increased its position in shares of Sunstone Hotel Investors by 23.0% during the 4th 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 purchasing an additional 1,229,769 shares during the period. JPMorgan Chase & Co. raised its stake 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 buying an additional 1,130,558 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Sunstone Hotel Investors by 22.2% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust's stock valued at $55,488,000 after buying an additional 851,104 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in Sunstone Hotel Investors during the first quarter valued at about $42,838,000. Institutional investors and hedge funds own 99.37% of the company's stock.

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.