Allianz Asset Management GmbH Cuts Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Allianz Asset Management GmbH cut its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHOFree Report) by 23.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,380,687 shares of the real estate investment trust’s stock after selling 416,295 shares during the period. Allianz Asset Management GmbH owned about 0.67% of Sunstone Hotel Investors worth $14,815,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in Sunstone Hotel Investors by 35.4% in the fourth quarter. Quadrant Capital Group LLC now owns 5,305 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 1,387 shares in the last quarter. Texas Permanent School Fund Corp raised its position in Sunstone Hotel Investors by 0.9% in the third quarter. Texas Permanent School Fund Corp now owns 183,928 shares of the real estate investment trust’s stock worth $1,720,000 after acquiring an additional 1,577 shares in the last quarter. Penserra Capital Management LLC grew its holdings in Sunstone Hotel Investors by 7.5% in the third quarter. Penserra Capital Management LLC now owns 24,880 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 1,730 shares during the last quarter. Swiss National Bank grew its holdings in Sunstone Hotel Investors by 0.4% in the third quarter. Swiss National Bank now owns 432,549 shares of the real estate investment trust’s stock valued at $4,044,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Metis Global Partners LLC grew its holdings in Sunstone Hotel Investors by 15.7% in the fourth quarter. Metis Global Partners LLC now owns 14,062 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 1,909 shares during the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHO has been the topic of several research reports. Compass Point raised Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and upped their target price for the company from $10.00 to $12.00 in a report on Tuesday, May 7th. Baird R W raised Sunstone Hotel Investors to a “strong-buy” rating in a report on Tuesday, May 28th. Robert W. Baird raised Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and upped their target price for the company from $11.00 to $12.00 in a report on Tuesday, May 28th. Truist Financial decreased their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.57.

Check Out Our Latest Analysis on SHO

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock opened at $10.28 on Monday. The stock’s 50-day moving average is $10.51 and its 200-day moving average is $10.63. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 4.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.17 and a quick ratio of 8.17. Sunstone Hotel Investors, Inc. has a 12 month low of $8.61 and a 12 month high of $11.59.

Sunstone Hotel Investors (NYSE:SHOGet Free Report) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.11). The company had revenue of $217.17 million for the quarter, compared to analysts’ expectations of $212.00 million. Sunstone Hotel Investors had a net margin of 20.69% and a return on equity of 10.75%. Equities analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.89 earnings per share for the current year.

Sunstone Hotel Investors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.09 per share. This is an increase from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, June 28th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 28.89%.

Sunstone Hotel Investors Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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