Tarsadia Capital LLC Sells 644,905 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Tarsadia Capital LLC lowered its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 43.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850,000 shares of the real estate investment trust's stock after selling 644,905 shares during the quarter. Sunstone Hotel Investors accounts for about 100.0% of Tarsadia Capital LLC's investment portfolio, making the stock its biggest position. Tarsadia Capital LLC owned about 0.42% of Sunstone Hotel Investors worth $10,064,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. boosted its holdings in Sunstone Hotel Investors by 6.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 271,125 shares of the real estate investment trust's stock valued at $3,210,000 after purchasing an additional 17,225 shares in the last quarter. Norges Bank acquired a new stake in Sunstone Hotel Investors in the 4th quarter valued at $8,659,000. LPL Financial LLC grew its position in Sunstone Hotel Investors by 19.5% in the fourth quarter. LPL Financial LLC now owns 28,329 shares of the real estate investment trust's stock valued at $335,000 after acquiring an additional 4,624 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Sunstone Hotel Investors in the fourth quarter valued at $475,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Sunstone Hotel Investors by 37.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 108,666 shares of the real estate investment trust's stock worth $1,287,000 after acquiring an additional 29,473 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SHO. Truist Financial reduced 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 note on Friday, March 21st. Jefferies Financial Group upped their price objective on shares of 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 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 report on Tuesday, February 18th. Finally, Morgan Stanley reissued an "underweight" rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sunstone Hotel Investors currently has an average rating of "Hold" and a consensus price target of $11.57.

Sunstone Hotel Investors Price Performance

Shares of SHO stock traded down $0.33 during trading hours on Friday, reaching $8.30. 6,368,260 shares of the company were exchanged, compared to its average volume of 2,255,227. Sunstone Hotel Investors, Inc. has a fifty-two week low of $8.01 and a fifty-two week high of $12.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. The stock's fifty day moving average is $10.44 and its two-hundred day moving average is $10.84. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 4.52 and a beta of 1.16.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $214.77 million for the quarter, compared to the consensus estimate of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Sell-side analysts forecast 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 declared 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. This represents a $0.36 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors's dividend 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.