Jacobs Levy Equity Management Inc. Increases Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Jacobs Levy Equity Management Inc. boosted its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 989,052 shares of the real estate investment trust's stock after buying an additional 44,242 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.49% of Sunstone Hotel Investors worth $10,207,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new stake in Sunstone Hotel Investors during the second quarter valued at $34,000. Quarry LP lifted its stake in Sunstone Hotel Investors by 584.1% during the second quarter. Quarry LP now owns 4,310 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 3,680 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Sunstone Hotel Investors during the second quarter worth about $52,000. Harbor Capital Advisors Inc. bought a new stake in Sunstone Hotel Investors during the third quarter worth about $59,000. Finally, Blue Trust Inc. lifted its stake in Sunstone Hotel Investors by 342.9% during the second quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 5,734 shares during the last quarter. Institutional investors own 99.37% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised Sunstone Hotel Investors from an "underweight" rating to an "equal weight" rating and set a $10.50 price target for the company in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $11.42.

Sunstone Hotel Investors Price Performance

Shares of SHO remained flat at $12.07 during trading hours on Friday. The stock had a trading volume of 2,512,441 shares, compared to its average volume of 2,168,247. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 6.28 and a beta of 1.25. The company's 50-day moving average is $10.47 and its 200 day moving average is $10.30. 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 1 year low of $9.39 and a 1 year high of $12.19.

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

Sunstone Hotel Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 annualized dividend and a dividend yield of 2.98%. Sunstone Hotel Investors's dividend payout ratio is currently 44.74%.

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.