Raymond James Financial Inc. Acquires New Shares in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Raymond James Financial Inc. acquired a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 104,635 shares of the real estate investment trust's stock, valued at approximately $1,239,000. Raymond James Financial Inc. owned 0.05% of Sunstone Hotel Investors at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Heritage Family Offices LLP boosted its holdings in Sunstone Hotel Investors by 7.2% in the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock valued at $171,000 after acquiring an additional 969 shares in the last quarter. Vanderbilt University lifted its position in shares of Sunstone Hotel Investors by 9.4% in the 4th quarter. Vanderbilt University now owns 14,808 shares of the real estate investment trust's stock worth $175,000 after purchasing an additional 1,276 shares during the period. GAMMA Investing LLC boosted its stake 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. Metis Global Partners LLC increased its position in shares of Sunstone Hotel Investors by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 23,323 shares of the real estate investment trust's stock valued at $276,000 after buying an additional 2,381 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock worth $36,000 after buying an additional 2,448 shares in the last quarter. 99.37% of the stock is owned by institutional investors.

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Sunstone Hotel Investors Stock Down 3.4 %

Shares of NYSE:SHO traded down $0.28 on Monday, hitting $7.99. 4,127,822 shares of the company traded hands, compared to its average volume of 2,262,685. The stock has a 50 day simple moving average of $10.37 and a 200-day simple moving average of $10.82. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The company has a market cap of $1.61 billion, a PE ratio of 10.51, a PEG ratio of 4.52 and a beta of 1.16. Sunstone Hotel Investors, Inc. has a 52 week low of $7.72 and a 52 week high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $214.77 million during the quarter, compared to analyst estimates of $211.17 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. As a group, research analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.09 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.36 dividend on an annualized basis and a yield of 4.51%. Sunstone Hotel Investors's payout ratio is currently 257.14%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SHO. Morgan Stanley reaffirmed an "underweight" rating and set a $10.00 price objective on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Jefferies Financial Group upped their price target on Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a "hold" rating in a research note on Thursday, January 2nd. Wells Fargo & Company lowered their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, Truist Financial dropped their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $11.57.

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.