Envestnet Asset Management Inc. grew its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO – Get Rating) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,380 shares of the real estate investment trust’s stock after purchasing an additional 4,811 shares during the period. Envestnet Asset Management Inc. owned approximately 0.06% of Sunstone Hotel Investors worth $1,184,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in shares of Sunstone Hotel Investors by 6.6% during the 1st quarter. State Street Corp now owns 9,935,570 shares of the real estate investment trust’s stock valued at $117,041,000 after purchasing an additional 616,646 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Sunstone Hotel Investors by 39.5% during the 1st quarter. Principal Financial Group Inc. now owns 8,228,650 shares of the real estate investment trust’s stock valued at $96,934,000 after purchasing an additional 2,332,082 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in shares of Sunstone Hotel Investors by 7.6% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 5,564,731 shares of the real estate investment trust’s stock valued at $65,553,000 after purchasing an additional 393,120 shares in the last quarter. Rush Island Management LP grew its position in Sunstone Hotel Investors by 48.4% in the first quarter. Rush Island Management LP now owns 5,521,125 shares of the real estate investment trust’s stock worth $65,039,000 after acquiring an additional 1,799,644 shares in the last quarter. Finally, DigitalBridge Group Inc. purchased a new position in Sunstone Hotel Investors in the first quarter worth $11,404,000. 99.51% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Citigroup upped their target price on shares of Sunstone Hotel Investors to $12.00 in a research report on Monday, August 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Sunstone Hotel Investors from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, October 25th. Finally, StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Tuesday, November 15th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.14.
Sunstone Hotel Investors Stock Performance
Sunstone Hotel Investors Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, December 29th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 5.62%.
Sunstone Hotel Investors Profile
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release has interests in 19 hotels comprised of 9,997 rooms. Sunstone's business is to acquire, own, asset manage and renovate or reposition hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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