Raymond James & Associates Has $836,000 Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Raymond James & Associates grew its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 31.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,920 shares of the real estate investment trust’s stock after buying an additional 18,443 shares during the quarter. Raymond James & Associates’ holdings in Sunstone Hotel Investors were worth $836,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SHO. Diversified Trust Co grew its position in Sunstone Hotel Investors by 7.1% during the 4th quarter. Diversified Trust Co now owns 33,250 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 2,209 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Sunstone Hotel Investors by 8.8% during the third quarter. Public Employees Retirement System of Ohio now owns 651,736 shares of the real estate investment trust’s stock worth $6,094,000 after purchasing an additional 52,835 shares during the last quarter. Employees Retirement System of Texas increased its stake in shares of Sunstone Hotel Investors by 72.7% in the third quarter. Employees Retirement System of Texas now owns 190,000 shares of the real estate investment trust’s stock valued at $1,777,000 after buying an additional 80,000 shares during the period. Tudor Investment Corp Et Al raised its holdings in Sunstone Hotel Investors by 101.8% in the 3rd quarter. Tudor Investment Corp Et Al now owns 489,639 shares of the real estate investment trust’s stock valued at $4,578,000 after buying an additional 247,058 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its position in Sunstone Hotel Investors by 7.5% during the 3rd quarter. Penserra Capital Management LLC now owns 24,880 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 1,730 shares during the period. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Truist Financial increased their price objective on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.00.

Sunstone Hotel Investors Stock Up 1.8 %

Shares of NYSE SHO opened at $10.39 on Tuesday. The company’s 50 day moving average price is $10.96 and its 200-day moving average price is $10.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.03 and a current ratio of 7.03. Sunstone Hotel Investors, Inc. has a 52-week low of $8.61 and a 52-week high of $11.59. The company has a market capitalization of $2.12 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 3.98 and a beta of 1.21.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.44. The business had revenue of $219.20 million for the quarter, compared to analyst estimates of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. Sunstone Hotel Investors’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. Equities analysts forecast that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.07 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 2.69%. Sunstone Hotel Investors’s payout ratio is currently 27.96%.

About Sunstone Hotel Investors

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.