KLP Kapitalforvaltning AS Acquires New Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

KLP Kapitalforvaltning AS acquired a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 39,900 shares of the real estate investment trust's stock, valued at approximately $475,000.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in Sunstone Hotel Investors by 442.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 2,448 shares during the period. GAMMA Investing LLC grew 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 valued at $39,000 after purchasing an additional 1,743 shares during the period. KBC Group NV increased its stake in shares of Sunstone Hotel Investors by 55.4% during the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust's stock worth $108,000 after purchasing an additional 3,249 shares in the last quarter. Longboard Asset Management LP acquired a new position in shares of Sunstone Hotel Investors during the 4th quarter worth about $141,000. Finally, Heritage Family Offices LLP lifted its stake in Sunstone Hotel Investors by 7.2% in the 4th quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock valued at $171,000 after buying an additional 969 shares in the last quarter. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Trading Down 3.8 %

Shares of SHO traded down $0.31 during midday trading on Tuesday, reaching $7.70. The company had a trading volume of 3,974,002 shares, compared to its average volume of 2,269,923. Sunstone Hotel Investors, Inc. has a 1-year low of $7.63 and a 1-year high of $12.41. 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 50 day simple moving average of $10.22 and a 200-day simple moving average of $10.78. The stock has a market cap of $1.55 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $214.77 million during the quarter, compared to analysts' expectations of $211.17 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. Research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio is presently 257.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Morgan Stanley reissued an "underweight" rating and set a $10.00 target price on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Truist Financial reduced their price objective on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Wells Fargo & Company lowered their target price on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group increased 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.