Strs Ohio Reduces Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Strs Ohio reduced its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 42,500 shares of the real estate investment trust’s stock after selling 1,100 shares during the period. Strs Ohio’s holdings in Sunstone Hotel Investors were worth $456,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new position in shares of Sunstone Hotel Investors during the third quarter worth approximately $101,000. Versor Investments LP purchased a new position in shares of Sunstone Hotel Investors during the third quarter worth approximately $112,000. Evergreen Capital Management LLC purchased a new position in shares of Sunstone Hotel Investors during the third quarter worth approximately $127,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Sunstone Hotel Investors during the third quarter worth approximately $152,000. Finally, ProVise Management Group LLC purchased a new position in shares of Sunstone Hotel Investors during the third quarter worth approximately $162,000. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Price Performance

Shares of NYSE SHO opened at $10.30 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03. The stock has a fifty day moving average price of $10.93 and a 200 day moving average price of $10.49. Sunstone Hotel Investors, Inc. has a 1-year low of $8.61 and a 1-year high of $11.59. The company has a market cap of $2.10 billion, a PE ratio of 11.08, a P/E/G ratio of 4.03 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 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.44. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The company had revenue of $219.20 million during the quarter, compared to the consensus estimate of $192.56 million. During the same quarter last year, the company earned $0.26 earnings per share. Sunstone Hotel Investors’s quarterly revenue was down 10.2% compared to the same quarter last year. Sell-side analysts forecast that Sunstone Hotel Investors, Inc. will post 0.85 EPS for the current year.

Sunstone Hotel Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.72%. The ex-dividend date was Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 27.96%.

Analyst Ratings Changes

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

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.