NFJ Investment Group LLC Buys Shares of 312,037 Sunstone Hotel Investors, Inc. (NYSE:SHO)

NFJ Investment Group LLC acquired a new position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 312,037 shares of the real estate investment trust's stock, valued at approximately $3,220,000. NFJ Investment Group LLC owned approximately 0.15% of Sunstone Hotel Investors at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SHO. Federated Hermes Inc. purchased a new stake in Sunstone Hotel Investors in the 2nd quarter worth approximately $34,000. Quarry LP boosted its position in Sunstone Hotel Investors by 584.1% in the 2nd 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 in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Sunstone Hotel Investors in the 2nd quarter worth approximately $52,000. Harbor Capital Advisors Inc. purchased a new stake in Sunstone Hotel Investors in the 3rd quarter worth approximately $59,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Sunstone Hotel Investors by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 1,937 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Price Performance

NYSE SHO traded up $0.10 during mid-day trading on Wednesday, hitting $11.96. The stock had a trading volume of 5,707,791 shares, compared to its average volume of 2,150,290. The firm's 50 day moving average is $10.41 and its 200 day moving average is $10.27. Sunstone Hotel Investors, Inc. has a twelve month low of $9.39 and a twelve month high of $12.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 5.70 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted 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). Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm had revenue of $226.40 million during the quarter, compared to analyst estimates of $224.61 million. During the same period in the prior year, the company posted $0.23 earnings per share. The firm's revenue for the quarter was down 8.6% compared to the same quarter last year. Equities research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.01%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors's dividend payout ratio is currently 42.11%.

Analyst Ratings Changes

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

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.