Bank of Montreal Can Cuts Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Bank of Montreal Can reduced its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 82.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,049 shares of the real estate investment trust's stock after selling 110,530 shares during the period. Bank of Montreal Can's holdings in Sunstone Hotel Investors were worth $273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Sunstone Hotel Investors by 645.6% in the fourth quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust's stock worth $98,929,000 after acquiring an additional 7,234,862 shares during the period. Centersquare Investment Management LLC bought a new position in shares of Sunstone Hotel Investors during the fourth quarter valued at $15,653,000. JPMorgan Chase & Co. raised its position in shares of Sunstone Hotel Investors by 31.0% in 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. Cbre Investment Management Listed Real Assets LLC grew its position in Sunstone Hotel Investors by 22.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust's stock valued at $55,488,000 after purchasing an additional 851,104 shares during the last quarter. Finally, Norges Bank purchased a new position in Sunstone Hotel Investors in the 4th quarter worth approximately $8,659,000. Institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Trading Down 0.3 %

NYSE:SHO traded down $0.03 during midday trading on Tuesday, hitting $8.28. 538,162 shares of the company traded hands, compared to its average volume of 2,383,625. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. Sunstone Hotel Investors, Inc. has a 12-month low of $7.45 and a 12-month high of $12.41. The firm has a market capitalization of $1.66 billion, a P/E ratio of 10.89, a P/E/G ratio of 4.52 and a beta of 1.16. The firm's fifty day moving average is $9.32 and its 200-day moving average is $10.55.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced 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. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The business had revenue of $214.77 million during the quarter, compared to the consensus estimate of $211.17 million. On average, sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 4.35%. The ex-dividend date was Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio is presently 257.14%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHO. Truist Financial decreased their price objective on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a report on Friday, March 21st. Morgan Stanley lowered their target price on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI decreased their price objective on Sunstone Hotel Investors from $12.00 to $10.00 and set an "in-line" rating on the stock in a research note on Monday. Jefferies Financial Group reduced their target price on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company dropped their target price on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, five have given 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.com, the company presently has a consensus rating of "Hold" and an average price target of $10.50.

Sunstone Hotel Investors 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.