Boothbay Fund Management LLC Purchases Shares of 336,605 Sunstone Hotel Investors, Inc. (NYSE:SHO)

Boothbay Fund Management LLC purchased a new position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 336,605 shares of the real estate investment trust's stock, valued at approximately $3,985,000. Boothbay Fund Management LLC owned 0.17% of Sunstone Hotel Investors as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SHO. Heritage Family Offices LLP lifted its position in Sunstone Hotel Investors by 7.2% during the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock worth $171,000 after buying an additional 969 shares during the period. Vanderbilt University increased its position in Sunstone Hotel Investors by 9.4% during the fourth quarter. Vanderbilt University now owns 14,808 shares of the real estate investment trust's stock worth $175,000 after purchasing an additional 1,276 shares during the last quarter. Xponance Inc. raised its stake in Sunstone Hotel Investors by 10.9% during the fourth quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust's stock worth $174,000 after purchasing an additional 1,441 shares during the period. GAMMA Investing LLC raised its stake in 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 purchasing an additional 1,743 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Sunstone Hotel Investors by 0.6% in the 4th quarter. Swiss National Bank now owns 379,949 shares of the real estate investment trust's stock valued at $4,499,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company's stock.

Sunstone Hotel Investors Price Performance

SHO stock opened at $8.25 on Friday. The firm has a market cap of $1.66 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16. 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, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41. The stock has a 50-day simple moving average of $9.38 and a 200-day simple moving average of $10.57.

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

Sunstone Hotel Investors Announces Dividend

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

Analysts Set New Price Targets

SHO has been the topic of several research reports. Jefferies Financial Group cut their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley cut their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on 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. Finally, Truist Financial cut their price target on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $10.57.

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.

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