102,800 Shares in Sunstone Hotel Investors, Inc. (NYSE:SHO) Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) in the fourth quarter, HoldingsChannel reports. The fund bought 102,800 shares of the real estate investment trust’s stock, valued at approximately $1,103,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new position in shares of Sunstone Hotel Investors during the third quarter worth $101,000. Versor Investments LP acquired a new position in Sunstone Hotel Investors in the third quarter valued at $112,000. Evergreen Capital Management LLC acquired a new position in Sunstone Hotel Investors in the third quarter valued at $127,000. Envestnet Portfolio Solutions Inc. acquired a new position in Sunstone Hotel Investors in the third quarter valued at $152,000. Finally, ProVise Management Group LLC acquired a new position in Sunstone Hotel Investors in the third quarter valued at $162,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Wall Street Analyst Weigh In

SHO has been the subject of several research analyst reports. Truist Financial upped their price objective on shares of Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. StockNews.com upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Sunstone Hotel Investors Price Performance

Shares of SHO opened at $10.52 on Wednesday. Sunstone Hotel Investors, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $11.59. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 3.98 and a beta of 1.21. The firm has a 50-day simple moving average of $10.96 and a 200-day simple moving average of $10.47. 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 (NYSE:SHO) last announced its earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.44. The business had revenue of $219.20 million during the quarter, compared to the consensus estimate of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.26 earnings per share. On average, equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.28 annualized dividend and a yield of 2.66%. Sunstone Hotel Investors’s dividend payout ratio is currently 27.96%.

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.