Martingale Asset Management L P Trims Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Martingale Asset Management L P cut its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 47.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,843 shares of the real estate investment trust's stock after selling 67,872 shares during the quarter. Martingale Asset Management L P's holdings in Sunstone Hotel Investors were worth $762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in Sunstone Hotel Investors in the second quarter worth $34,000. Quarry LP grew its stake in Sunstone Hotel Investors by 584.1% in the second quarter. Quarry LP now owns 4,310 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 3,680 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Sunstone Hotel Investors in the second quarter worth $52,000. Harbor Capital Advisors Inc. purchased a new stake in Sunstone Hotel Investors in the third quarter worth $59,000. Finally, Blue Trust Inc. grew its stake in Sunstone Hotel Investors by 342.9% in the second quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust's stock worth $83,000 after purchasing an additional 5,734 shares during the period. 99.37% of the stock is owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Stock Performance

Shares of NYSE:SHO traded up $1.07 during midday trading on Tuesday, reaching $11.84. 16,206,162 shares of the company's stock traded hands, compared to its average volume of 2,135,557. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 5.70 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. Sunstone Hotel Investors, Inc. has a one year low of $9.39 and a one year high of $12.19. The stock has a 50 day moving average of $10.39 and a 200 day moving average of $10.26.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The business had revenue of $226.40 million for the quarter, compared to the consensus estimate of $224.61 million. During the same period in the previous year, the company earned $0.23 earnings per share. The company's revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Tuesday, December 31st. Sunstone Hotel Investors's dividend payout ratio is 42.11%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised Sunstone Hotel Investors from an "underweight" rating to an "equal weight" rating and set a $10.50 target price on the stock in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $11.42.

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.