Norges Bank Takes Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Norges Bank acquired a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 731,293 shares of the real estate investment trust's stock, valued at approximately $8,659,000. Norges Bank owned 0.36% of Sunstone Hotel Investors at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC increased its position in Sunstone Hotel Investors by 19.5% in the 4th quarter. LPL Financial LLC now owns 28,329 shares of the real estate investment trust's stock valued at $335,000 after acquiring an additional 4,624 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Sunstone Hotel Investors during the 4th quarter worth about $475,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Sunstone Hotel Investors by 37.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 108,666 shares of the real estate investment trust's stock valued at $1,287,000 after buying an additional 29,473 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Sunstone Hotel Investors by 134.8% in the 4th quarter. Teacher Retirement System of Texas now owns 133,649 shares of the real estate investment trust's stock valued at $1,582,000 after buying an additional 76,729 shares during the last quarter. Finally, Xponance Inc. increased its stake in shares of Sunstone Hotel Investors by 10.9% in the fourth quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust's stock valued at $174,000 after buying an additional 1,441 shares during the period. Institutional investors own 99.37% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley reiterated an "underweight" rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Wells Fargo & Company reduced 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 research note on Tuesday, February 18th. Jefferies Financial Group lowered 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 research note on Wednesday. Finally, Truist Financial cut their price target on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research report on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sunstone Hotel Investors has a consensus rating of "Hold" and an average target price of $11.00.

Sunstone Hotel Investors Stock Up 2.1 %

Shares of NYSE SHO traded up $0.18 during trading on Friday, hitting $8.33. The stock had a trading volume of 2,416,267 shares, compared to its average volume of 2,291,014. 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 firm has a fifty day moving average of $9.99 and a two-hundred day moving average of $10.72. Sunstone Hotel Investors, Inc. has a 12 month low of $7.45 and a 12 month high of $12.41. The company has a market capitalization of $1.67 billion, a PE ratio of 10.95, a PEG ratio of 4.52 and a beta of 1.16.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $214.77 million for the quarter, compared to the consensus estimate of $211.17 million. As a group, equities research analysts forecast 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 Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio is 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.