Assetmark Inc. Cuts Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Assetmark Inc. lessened its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 68.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,714 shares of the real estate investment trust's stock after selling 40,307 shares during the quarter. Assetmark Inc.'s holdings in Sunstone Hotel Investors were worth $222,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Heritage Family Offices LLP increased its stake in shares of Sunstone Hotel Investors by 7.2% in the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock worth $171,000 after purchasing an additional 969 shares in the last quarter. Vanderbilt University raised its holdings in Sunstone Hotel Investors by 9.4% during the 4th quarter. Vanderbilt University now owns 14,808 shares of the real estate investment trust's stock valued at $175,000 after acquiring an additional 1,276 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 worth $39,000 after acquiring an additional 1,743 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of Sunstone Hotel Investors by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 23,323 shares of the real estate investment trust's stock worth $276,000 after acquiring an additional 2,381 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 2,448 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SHO shares. Wells Fargo & Company dropped their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Jefferies Financial Group upped their target price on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a "hold" rating in a report on Thursday, January 2nd. Finally, Morgan Stanley reissued an "underweight" rating and issued a $10.00 price target on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $11.71.

Sunstone Hotel Investors Price Performance

Shares of Sunstone Hotel Investors stock traded up $0.09 on Monday, hitting $9.86. 1,926,740 shares of the company traded hands, compared to its average volume of 2,106,630. Sunstone Hotel Investors, Inc. has a 12-month low of $9.39 and a 12-month high of $12.41. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. The company has a market cap of $1.98 billion, a P/E ratio of 12.97, a P/E/G ratio of 4.52 and a beta of 1.19. The firm's 50-day simple moving average is $11.11 and its 200 day simple moving average is $10.90.

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

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio is currently 257.14%.

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.