Resona Asset Management Co. Ltd. Makes New $952,000 Investment in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Resona Asset Management Co. Ltd. bought a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 79,518 shares of the real estate investment trust's stock, valued at approximately $952,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Sunstone Hotel Investors by 442.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 2,448 shares during the period. GAMMA Investing LLC grew its holdings in Sunstone Hotel Investors by 114.1% in the fourth 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 during the last quarter. KBC Group NV increased its holdings in Sunstone Hotel Investors by 55.4% during the 4th quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust's stock valued at $108,000 after acquiring an additional 3,249 shares in the last quarter. Longboard Asset Management LP purchased a new position in shares of Sunstone Hotel Investors during the 4th quarter worth approximately $141,000. Finally, Heritage Family Offices LLP increased its position in Sunstone Hotel Investors by 7.2% during the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock worth $171,000 after buying an additional 969 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company's stock.

Analysts Set New Price Targets

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

Sunstone Hotel Investors Stock Up 0.9 %

SHO traded up $0.08 during midday trading on Wednesday, hitting $8.32. 326,614 shares of the company's stock traded hands, compared to its average volume of 2,340,115. The company has a market cap of $1.67 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16. Sunstone Hotel Investors, Inc. has a one year low of $7.45 and a one year high of $12.41. The stock's fifty day simple moving average is $9.88 and its 200-day simple moving average is $10.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98.

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 EPS for the quarter, topping the consensus estimate of $0.14 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 $214.77 million for the quarter, compared to the consensus estimate of $211.17 million. As a group, equities analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, March 31st. Sunstone Hotel Investors's payout ratio is 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.