Sunstone Hotel Investors, Inc. (SHO) to Issue Quarterly Dividend of $0.09 on April 15th

Sunstone Hotel Investors, Inc. (NYSE:SHO) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.09 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.36 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Monday, March 31st.

Sunstone Hotel Investors has a dividend payout ratio of 133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Sunstone Hotel Investors to earn $0.97 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 37.1%.

Sunstone Hotel Investors Stock Down 2.2 %

Shares of SHO opened at $9.48 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. The company has a 50-day simple moving average of $10.70 and a 200-day simple moving average of $10.87. Sunstone Hotel Investors has a 52 week low of $9.39 and a 52 week high of $12.41. The firm has a market capitalization of $1.91 billion, a P/E ratio of 12.47, a P/E/G ratio of 4.52 and a beta of 1.19.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Jefferies Financial Group raised 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. Morgan Stanley reaffirmed an “underweight” rating and set a $10.00 price objective on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Truist Financial lowered their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Finally, Wells Fargo & Company cut their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.57.

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.