American Century Companies Inc. Sells 236,815 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

American Century Companies Inc. cut its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 73.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,658 shares of the real estate investment trust's stock after selling 236,815 shares during the period. American Century Companies Inc.'s holdings in Sunstone Hotel Investors were worth $1,002,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Sunstone Hotel Investors by 37.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 108,666 shares of the real estate investment trust's stock valued at $1,287,000 after acquiring an additional 29,473 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Sunstone Hotel Investors by 134.8% in the fourth quarter. Teacher Retirement System of Texas now owns 133,649 shares of the real estate investment trust's stock valued at $1,582,000 after purchasing an additional 76,729 shares in the last quarter. Xponance Inc. boosted its position in shares of Sunstone Hotel Investors by 10.9% in the fourth quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust's stock worth $174,000 after buying an additional 1,441 shares during the period. William Blair Investment Management LLC raised its position in Sunstone Hotel Investors by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 2,387,239 shares of the real estate investment trust's stock valued at $28,265,000 after buying an additional 58,234 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in Sunstone Hotel Investors in the 4th quarter worth about $225,000. 99.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SHO has been the subject of several research reports. Morgan Stanley restated an "underweight" rating and set a $10.00 price target on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Truist Financial cut their price objective on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a report on Friday, March 21st. Wells Fargo & Company lowered 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 note on Tuesday, February 18th. Finally, Jefferies Financial Group cut their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $11.00.

Sunstone Hotel Investors Stock Performance

Shares of SHO traded down $0.11 on Wednesday, reaching $8.14. 30,970 shares of the stock traded hands, compared to its average volume of 2,283,400. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 4.52 and a beta of 1.16. Sunstone Hotel Investors, Inc. has a 12 month low of $6.01 and a 12 month high of $12.41. The stock's 50-day moving average price is $9.88 and its 200-day moving average price is $10.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98.

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 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The company had revenue of $214.77 million during the quarter, compared to the consensus estimate of $211.17 million. Equities analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 4.43%. Sunstone Hotel Investors's dividend payout ratio is presently 257.14%.

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.