Legal & General Group Plc Sells 117,215 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Legal & General Group Plc cut its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,139,126 shares of the real estate investment trust's stock after selling 117,215 shares during the quarter. Legal & General Group Plc owned about 1.56% of Sunstone Hotel Investors worth $37,167,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Sunstone Hotel Investors by 442.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 2,448 shares during the period. GAMMA Investing LLC boosted its position in shares of Sunstone Hotel Investors by 114.1% during the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 1,743 shares in the last quarter. KBC Group NV grew its stake in Sunstone Hotel Investors by 55.4% during the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust's stock worth $108,000 after purchasing an additional 3,249 shares during the period. Longboard Asset Management LP bought a new stake in Sunstone Hotel Investors in the fourth quarter worth approximately $141,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Sunstone Hotel Investors in the fourth quarter valued at approximately $167,000. Institutional investors own 99.37% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SHO. Truist Financial reduced 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 research report on Friday, March 21st. Wells Fargo & Company reduced their price target 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. Morgan Stanley reissued an "underweight" rating and set a $10.00 price objective on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group decreased their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sunstone Hotel Investors presently has an average rating of "Hold" and a consensus target price of $11.00.

Sunstone Hotel Investors Stock Up 0.7 %

SHO stock traded up $0.06 during mid-day trading on Friday, reaching $8.22. 2,737,347 shares of the company traded hands, compared to its average volume of 2,298,044. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 4.52 and a beta of 1.16. Sunstone Hotel Investors, Inc. has a fifty-two week low of $7.45 and a fifty-two week high of $12.41. The firm's 50 day moving average price is $9.75 and its 200 day moving average price is $10.65. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44.

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

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio is presently 257.14%.

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.