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

Sunstone Hotel Investors, Inc. (NYSE:SHO) declared a quarterly dividend on Wednesday, August 5th. Shareholders of record on Wednesday, September 30th will be paid a dividend of 0.09 per share by the real estate investment trust on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, September 30th.

Sunstone Hotel Investors has raised its dividend payment by an average of 0.5%annually over the last three years and has raised its dividend every year for the last 2 years. Sunstone Hotel Investors has a payout ratio of 189.5% indicating that 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 $0.98 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 Trading Down 3.3%

Shares of SHO traded down $0.38 during mid-day trading on Thursday, reaching $11.30. 2,544,915 shares of the company’s stock traded hands, compared to its average volume of 2,187,494. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.42 and a quick ratio of 3.42. The stock’s 50-day moving average is $11.53 and its two-hundred day moving average is $10.20. Sunstone Hotel Investors has a 12 month low of $8.61 and a 12 month high of $12.07. The stock has a market cap of $2.10 billion, a P/E ratio of 102.70, a P/E/G ratio of 2.51 and a beta of 0.97.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $259.71 million during the quarter, compared to analyst estimates of $244.29 million. Sunstone Hotel Investors had a return on equity of 2.27% and a net margin of 3.84%.Sunstone Hotel Investors’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. Research analysts forecast that Sunstone Hotel Investors will post 0.91 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Robert C. Springer sold 89,631 shares of Sunstone Hotel Investors stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $11.62, for a total value of $1,041,512.22. Following the completion of the sale, the insider directly owned 573,743 shares in the company, valued at $6,666,893.66. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Sunstone Hotel Investors

Hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new position in Sunstone Hotel Investors during the fourth quarter valued at approximately $26,000. North Star Investment Management Corp. bought a new stake in Sunstone Hotel Investors during the 1st quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Sunstone Hotel Investors by 27.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,274 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 1,135 shares during the period. FIL Ltd increased its holdings in shares of Sunstone Hotel Investors by 57.2% in the 4th quarter. FIL Ltd now owns 9,010 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 3,280 shares during the period. Finally, Cerity Partners LLC bought a new position in shares of Sunstone Hotel Investors in the 2nd quarter worth $88,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Company Profile

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.