CANADA LIFE ASSURANCE Co Sells 58,534 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

CANADA LIFE ASSURANCE Co lowered its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 430,630 shares of the real estate investment trust's stock after selling 58,534 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.21% of Sunstone Hotel Investors worth $5,093,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its holdings in shares of Sunstone Hotel Investors by 442.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 2,448 shares during the period. GAMMA Investing LLC increased its stake in Sunstone Hotel Investors by 114.1% during the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 1,743 shares during the period. Sterling Capital Management LLC raised its holdings in Sunstone Hotel Investors by 805.2% in the 4th quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock valued at $76,000 after acquiring an additional 5,701 shares in the last quarter. KBC Group NV lifted its position in shares of Sunstone Hotel Investors by 55.4% in the 4th quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust's stock worth $108,000 after acquiring an additional 3,249 shares during the period. Finally, FIL Ltd lifted its position in shares of Sunstone Hotel Investors by 140.2% in the 4th quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust's stock worth $135,000 after acquiring an additional 6,634 shares during the period. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley cut their target price on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. 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. Truist Financial decreased 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 research report on Friday, March 21st. Finally, Jefferies Financial Group dropped their price target on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sunstone Hotel Investors presently has a consensus rating of "Hold" and an average price target of $10.57.

Sunstone Hotel Investors Price Performance

Shares of Sunstone Hotel Investors stock traded up $0.19 during mid-day trading on Friday, reaching $8.25. 1,875,099 shares of the stock were exchanged, compared to its average volume of 2,345,032. Sunstone Hotel Investors, Inc. has a fifty-two week low of $7.45 and a fifty-two week high of $12.41. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16. The firm has a 50-day simple moving average of $9.38 and a 200 day simple moving average of $10.57. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $214.77 million during the quarter, compared to analysts' expectations of $211.17 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. On average, sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend was Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio is currently 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.