Adage Capital Partners GP L.L.C. Sells 300,000 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Adage Capital Partners GP L.L.C. decreased its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,750,000 shares of the real estate investment trust's stock after selling 300,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.87% of Sunstone Hotel Investors worth $20,720,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SHO. JPMorgan Chase & Co. increased its stake in shares of Sunstone Hotel Investors by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust's stock worth $49,284,000 after purchasing an additional 1,130,558 shares during the last quarter. Principal Financial Group Inc. increased its position in Sunstone Hotel Investors by 11.6% in the third quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust's stock worth $11,566,000 after buying an additional 116,058 shares during the last quarter. GAMMA Investing LLC increased its position in 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 buying an additional 1,743 shares during the last quarter. Barclays PLC raised its stake in shares of Sunstone Hotel Investors by 304.9% in the third quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust's stock valued at $3,540,000 after buying an additional 258,302 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Sunstone Hotel Investors by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 38,526 shares of the real estate investment trust's stock valued at $456,000 after buying an additional 3,570 shares during the last quarter. Institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Trading Up 2.3 %

Sunstone Hotel Investors stock opened at $8.25 on Friday. The stock has a market cap of $1.66 billion, a P/E ratio of 10.85, a PEG ratio of 4.52 and a beta of 1.16. Sunstone Hotel Investors, Inc. has a fifty-two week low of $7.45 and a fifty-two week high of $12.41. The firm's fifty day moving average price is $9.38 and its 200-day moving average price is $10.57. 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 - Get Free Report) last announced its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $214.77 million for the quarter, compared to analyst estimates of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Equities research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.36 dividend on an annualized basis and a yield of 4.37%. Sunstone Hotel Investors's dividend payout ratio is presently 257.14%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Truist Financial lowered their price objective on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. Morgan Stanley cut their price objective on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group lowered their target price on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their target price on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $10.57.

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.

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