Sunstone Hotel Investors (NYSE:SHO) Hits New 12-Month High - Still a Buy?

Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $12.41 and last traded at $12.36, with a volume of 86309 shares. The stock had previously closed at $12.21.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upped their price objective on shares of Sunstone Hotel Investors from $11.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sunstone Hotel Investors currently has an average rating of "Hold" and a consensus price target of $12.20.

Sunstone Hotel Investors Stock Up 1.1 %

The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.48 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 6.45 and a beta of 1.25. The business's 50 day simple moving average is $10.73 and its 200 day simple moving average is $10.39.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm had revenue of $226.40 million for the quarter, compared to analysts' expectations of $224.61 million. During the same period in the prior year, the company posted $0.23 earnings per share. Sunstone Hotel Investors's quarterly revenue was down 8.6% compared to the same quarter last year. As a group, analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.09 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.92%. Sunstone Hotel Investors's dividend payout ratio is 42.11%.

Hedge Funds Weigh In On Sunstone Hotel Investors

A number of hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in Sunstone Hotel Investors during the second quarter worth approximately $34,000. Quarry LP increased its position in Sunstone Hotel Investors by 584.1% in the second quarter. Quarry LP now owns 4,310 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 3,680 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Sunstone Hotel Investors in the second quarter worth about $52,000. Harbor Capital Advisors Inc. acquired a new stake in Sunstone Hotel Investors in the third quarter worth about $59,000. Finally, Blue Trust Inc. increased its position in Sunstone Hotel Investors by 342.9% in the second quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 5,734 shares during the period. Institutional investors and hedge funds own 99.37% of the company's stock.

Sunstone Hotel Investors Company Profile

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.