Sunstone Hotel Investors (NYSE:SHO) Sees Unusually-High Trading Volume – Here’s Why

Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) saw unusually-high trading volume on Monday . Approximately 2,372,441 shares changed hands during trading, an increase of 45% from the previous session’s volume of 1,635,559 shares.The stock last traded at $12.14 and had previously closed at $11.79.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of Sunstone Hotel Investors from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.17.

Sunstone Hotel Investors Stock Performance

The business has a 50-day moving average price of $11.21 and a 200-day moving average price of $10.58. 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 firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 6.45 and a beta of 1.21.

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

Sunstone Hotel Investors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.97%. Sunstone Hotel Investors’s dividend payout ratio is currently 44.74%.

Hedge Funds Weigh In On Sunstone Hotel Investors

Several hedge funds have recently made changes to their positions in SHO. Federated Hermes Inc. purchased a new position in shares of Sunstone Hotel Investors in the second quarter worth about $34,000. GAMMA Investing LLC raised its position in Sunstone Hotel Investors by 114.1% during the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,743 shares in the last quarter. Quarry LP lifted its holdings 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 valued at $45,000 after acquiring an additional 3,680 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Sunstone Hotel Investors in the 3rd quarter worth approximately $59,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Sunstone Hotel Investors by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 1,937 shares during the period. 99.37% of the stock is owned by institutional investors and hedge funds.

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.