Geode Capital Management LLC Buys 109,327 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Geode Capital Management LLC lifted its position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,247,927 shares of the real estate investment trust's stock after acquiring an additional 109,327 shares during the quarter. Geode Capital Management LLC owned approximately 2.58% of Sunstone Hotel Investors worth $54,169,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SHO. Bailard Inc. bought a new position in shares of Sunstone Hotel Investors in the second quarter valued at approximately $157,000. Allspring Global Investments Holdings LLC increased its position in shares of Sunstone Hotel Investors by 8,623.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,515 shares of the real estate investment trust's stock valued at $120,000 after purchasing an additional 11,383 shares during the last quarter. Miller Howard Investments Inc. NY bought a new stake in shares of Sunstone Hotel Investors during the 2nd quarter worth $303,000. Panagora Asset Management Inc. boosted its holdings in shares of Sunstone Hotel Investors by 14.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,203,601 shares of the real estate investment trust's stock worth $12,590,000 after buying an additional 148,899 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Sunstone Hotel Investors by 22.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 39,745 shares of the real estate investment trust's stock valued at $416,000 after buying an additional 7,366 shares during the period. Hedge funds and other institutional investors own 99.37% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their price target on Sunstone Hotel Investors from $11.00 to $13.00 and gave the company an "equal weight" rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.20.

Sunstone Hotel Investors Price Performance

Shares of SHO traded down $0.04 during midday trading on Monday, reaching $11.97. The stock had a trading volume of 1,518,298 shares, compared to its average volume of 2,195,581. 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 capitalization of $2.40 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 6.45 and a beta of 1.25. The company's 50-day moving average is $10.88 and its 200 day moving average is $10.45. Sunstone Hotel Investors, Inc. has a 12-month low of $9.39 and a 12-month high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The business had revenue of $226.40 million during the quarter, compared to the consensus estimate of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company's revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a yield of 3.01%. Sunstone Hotel Investors's dividend payout ratio is currently 44.74%.

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.