Sunstone Hotel Investors, Inc. (NYSE:SHO) Holdings Raised by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 11.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,120,710 shares of the real estate investment trust's stock after buying an additional 116,058 shares during the period. Principal Financial Group Inc. owned 0.55% of Sunstone Hotel Investors worth $11,566,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in shares of Sunstone Hotel Investors during the first quarter valued at approximately $30,000. Federated Hermes Inc. acquired a new position in shares of Sunstone Hotel Investors during the 2nd quarter valued at $34,000. Quarry LP raised its stake in shares of 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 buying an additional 3,680 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Sunstone Hotel Investors in the first quarter valued at $49,000. Finally, 1620 Investment Advisors Inc. bought a new position in Sunstone Hotel Investors during the second quarter valued at about $52,000. Institutional investors and hedge funds own 99.37% of the company's stock.

Wall Street Analysts Forecast Growth

SHO has been the subject of a number of research analyst reports. StockNews.com lowered shares of Sunstone Hotel Investors from a "hold" rating to a "sell" rating in a research report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an "underweight" rating to an "equal weight" rating and set a $10.50 target price for the company in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $11.42.

Sunstone Hotel Investors Trading Down 0.5 %

Shares of SHO traded down $0.05 during midday trading on Monday, hitting $10.05. The stock had a trading volume of 1,535,822 shares, compared to its average volume of 2,043,249. The business has a 50-day simple moving average of $10.34 and a two-hundred day simple moving average of $10.25. The firm has a market cap of $2.02 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 5.52 and a beta of 1.25. The company has a current ratio of 2.98, a quick ratio of 3.75 and a debt-to-equity ratio of 0.44. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $11.59.

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 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $226.40 million for 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 company's revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. As a group, equities analysts forecast that Sunstone Hotel Investors, Inc. will post 0.78 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a yield of 3.58%. Sunstone Hotel Investors's payout ratio is presently 42.11%.

About Sunstone Hotel Investors

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.