Alliancebernstein L.P. Sells 44,119 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Alliancebernstein L.P. lessened its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 273,583 shares of the real estate investment trust's stock after selling 44,119 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Sunstone Hotel Investors worth $3,239,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of Sunstone Hotel Investors by 645.6% in the fourth quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust's stock worth $98,929,000 after acquiring an additional 7,234,862 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Sunstone Hotel Investors by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust's stock valued at $49,284,000 after buying an additional 1,130,558 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of Sunstone Hotel Investors by 22.2% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust's stock valued at $55,488,000 after buying an additional 851,104 shares during the period. Norges Bank acquired a new stake in Sunstone Hotel Investors during the fourth quarter worth about $8,659,000. Finally, Barclays PLC increased its stake in Sunstone Hotel Investors by 304.9% during the third quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust's stock valued at $3,540,000 after acquiring an additional 258,302 shares during the period. Hedge funds and other institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Price Performance

Shares of NYSE:SHO traded up $0.06 during trading on Friday, reaching $8.22. The stock had a trading volume of 2,737,347 shares, compared to its average volume of 2,302,730. The business's 50-day moving average price is $9.69 and its 200 day moving average price is $10.64. Sunstone Hotel Investors, Inc. has a 52 week low of $7.45 and a 52 week high of $12.41. The stock has a market capitalization of $1.65 billion, a PE ratio of 10.81, a P/E/G ratio of 4.52 and a beta of 1.16. 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 return on equity of 9.04% and a net margin of 18.61%. The company had revenue of $214.77 million for the quarter, compared to analysts' expectations of $211.17 million. As a group, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.09 per share. The ex-dividend date was Monday, March 31st. This represents a $0.36 annualized dividend and a dividend yield of 4.38%. Sunstone Hotel Investors's dividend payout ratio (DPR) is currently 257.14%.

Wall Street Analysts Forecast Growth

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

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.