Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,274,537 shares of the real estate investment trust's stock after selling 445,449 shares during the quarter. Vanguard Group Inc. owned 15.57% of Sunstone Hotel Investors worth $370,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 2,448 shares during the period. GAMMA Investing LLC increased its position in shares of 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 worth $39,000 after acquiring an additional 1,743 shares in the last quarter. KBC Group NV raised its stake 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 valued at $108,000 after acquiring an additional 3,249 shares during the period. Longboard Asset Management LP acquired a new position in shares of Sunstone Hotel Investors during the 4th quarter valued at $141,000. Finally, Heritage Family Offices LLP lifted its holdings in shares of Sunstone Hotel Investors by 7.2% during the 4th quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock valued at $171,000 after acquiring an additional 969 shares in the last quarter. 99.37% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Sunstone Hotel Investors Stock Down 3.4 %

Shares of NYSE:SHO traded down $0.28 during midday trading on Monday, reaching $7.99. The company had a trading volume of 4,127,822 shares, compared to its average volume of 2,262,687. The stock has a market capitalization of $1.61 billion, a P/E ratio of 10.51, a PEG ratio of 4.52 and a beta of 1.16. The stock's fifty day moving average price is $10.37 and its 200-day moving average price is $10.82. 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, Inc. has a one year low of $7.68 and a one year high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued 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. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The business had revenue of $214.77 million for the quarter, compared to analyst estimates of $211.17 million. Equities research analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.09 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.36 annualized dividend and a dividend yield of 4.51%. Sunstone Hotel Investors's payout ratio is 257.14%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHO. Wells Fargo & Company cut their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Jefferies Financial Group raised their target price on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a "hold" rating in a report on Thursday, January 2nd. Truist Financial decreased their price target on 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, Morgan Stanley reiterated an "underweight" rating and set a $10.00 price objective on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Two investment analysts have 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 company. According to data from MarketBeat, Sunstone Hotel Investors currently has a consensus rating of "Hold" and a consensus price target of $11.57.

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.