Zurcher Kantonalbank Zurich Cantonalbank Purchases 42,130 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 48.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,298 shares of the real estate investment trust's stock after buying an additional 42,130 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Sunstone Hotel Investors worth $1,519,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SHO. Metis Global Partners LLC raised its stake in shares of Sunstone Hotel Investors by 29.8% in the third quarter. Metis Global Partners LLC now owns 20,942 shares of the real estate investment trust's stock valued at $216,000 after purchasing an additional 4,804 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Sunstone Hotel Investors in the third quarter valued at $573,000. Charles Schwab Investment Management Inc. raised its stake in shares of Sunstone Hotel Investors by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,081,978 shares of the real estate investment trust's stock valued at $42,126,000 after purchasing an additional 117,390 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Sunstone Hotel Investors by 7.1% in the third quarter. Daiwa Securities Group Inc. now owns 67,830 shares of the real estate investment trust's stock valued at $700,000 after purchasing an additional 4,492 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Sunstone Hotel Investors by 460.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,372 shares of the real estate investment trust's stock valued at $14,596,000 after purchasing an additional 1,161,792 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

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Sunstone Hotel Investors Price Performance

NYSE:SHO traded down $0.09 during trading hours on Friday, reaching $9.73. The company had a trading volume of 3,667,777 shares, compared to its average volume of 2,107,732. The stock has a 50-day moving average of $10.89 and a two-hundred day moving average of $10.88. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.95 billion, a PE ratio of 12.80, a PEG ratio of 4.52 and a beta of 1.19. Sunstone Hotel Investors, Inc. has a one year low of $9.39 and a one year high of $12.41.

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. The company had revenue of $214.77 million for the quarter, compared to analysts' expectations of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Monday, March 31st. Sunstone Hotel Investors's payout ratio is presently 257.14%.

Wall Street Analyst Weigh In

SHO has been the subject of a number of recent research reports. Jefferies Financial Group upped their target price on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a "hold" rating in a research note on Thursday, January 2nd. Wells Fargo & Company cut their target price on 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. Morgan Stanley restated an "underweight" rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Finally, Truist Financial lowered their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research report on Friday. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, Sunstone Hotel Investors presently has an average rating of "Hold" and a consensus target price of $11.57.

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.