Short Interest in Sunstone Hotel Investors, Inc. (NYSE:SHO) Declines By 17.7%

Sunstone Hotel Investors, Inc. (NYSE:SHO) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 10,380,000 shares, a drop of 17.7% from the December 15th total of 12,610,000 shares. Approximately 5.2% of the company’s shares are short sold. Based on an average trading volume of 2,720,000 shares, the days-to-cover ratio is currently 3.8 days.

Sunstone Hotel Investors Trading Up 0.3 %

NYSE:SHO traded up $0.04 on Friday, reaching $11.74. The company’s stock had a trading volume of 1,112,753 shares, compared to its average volume of 1,988,147. Sunstone Hotel Investors has a 1-year low of $9.39 and a 1-year high of $12.41. The business’s 50-day moving average price is $11.50 and its two-hundred day moving average price is $10.69. The firm has a market cap of $2.36 billion, a PE ratio of 15.44, a PEG ratio of 5.14 and a beta of 1.21. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) 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 net margin of 18.61% and a return on equity of 9.04%. Sunstone Hotel Investors’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Equities research analysts anticipate that Sunstone Hotel Investors will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.07%. Sunstone Hotel Investors’s payout ratio is 44.74%.

Wall Street Analysts Forecast Growth

SHO has been the subject of several recent research reports. Jefferies Financial Group upped their target price on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday, January 2nd. Wells Fargo & Company lifted their price objective on Sunstone Hotel Investors from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.86.

Hedge Funds Weigh In On Sunstone Hotel Investors

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. acquired a new stake in shares of Sunstone Hotel Investors in the 2nd quarter valued at about $34,000. GAMMA Investing LLC lifted its position in shares of Sunstone Hotel Investors by 114.1% in the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 1,743 shares in the last quarter. Quarry LP boosted its holdings in Sunstone Hotel Investors by 584.1% during 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 last quarter. Harbor Capital Advisors Inc. bought a new position in Sunstone Hotel Investors in the third quarter valued at $59,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Sunstone Hotel Investors by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 1,937 shares during the last quarter. 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.