Geode Capital Management LLC Reduces Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Geode Capital Management LLC trimmed its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,172,298 shares of the real estate investment trust's stock after selling 75,629 shares during the period. Geode Capital Management LLC owned approximately 2.57% of Sunstone Hotel Investors worth $61,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Heritage Family Offices LLP increased its holdings in Sunstone Hotel Investors by 7.2% in the 4th 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 in the last quarter. Vanderbilt University raised its holdings in shares of 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 valued at $175,000 after purchasing an additional 1,276 shares during the last quarter. Xponance Inc. lifted its position 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 valued at $174,000 after purchasing an additional 1,441 shares during the period. GAMMA Investing LLC boosted its holdings in Sunstone Hotel Investors by 114.1% in 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 last quarter. Finally, Swiss National Bank raised its stake in Sunstone Hotel Investors by 0.6% during 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 buying an additional 2,300 shares during the last quarter. Institutional investors own 99.37% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SHO shares. Morgan Stanley reaffirmed an "underweight" rating and issued a $10.00 price objective on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Truist Financial reduced their price target on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Wells Fargo & Company dropped their price objective on shares of 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. Finally, 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. 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 assigned a strong buy rating to the company. According to MarketBeat, Sunstone Hotel Investors currently has a consensus rating of "Hold" and a consensus price target of $11.00.

Sunstone Hotel Investors Price Performance

Shares of SHO traded up $0.06 during mid-day trading on Friday, reaching $8.22. The stock had a trading volume of 2,737,347 shares, compared to its average volume of 2,298,044. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 10.81, a PEG 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 12 month low of $7.45 and a 12 month high of $12.41. The business has a fifty day moving average of $9.75 and a 200 day moving average of $10.65.

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 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $214.77 million during 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%. Equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio (DPR) 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.