The Manufacturers Life Insurance Company Raises Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

The Manufacturers Life Insurance Company increased its stake in Sunstone Hotel Investors, Inc. (NYSE:SHOFree Report) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,281,393 shares of the real estate investment trust’s stock after purchasing an additional 236,708 shares during the quarter. The Manufacturers Life Insurance Company owned 1.60% of Sunstone Hotel Investors worth $35,209,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SHO. Rush Island Management LP increased its holdings in Sunstone Hotel Investors by 30.3% in the third quarter. Rush Island Management LP now owns 9,579,732 shares of the real estate investment trust’s stock valued at $89,570,000 after buying an additional 2,225,579 shares in the last quarter. Franklin Resources Inc. increased its stake in Sunstone Hotel Investors by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 7,860,281 shares of the real estate investment trust’s stock valued at $84,341,000 after purchasing an additional 89,211 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Sunstone Hotel Investors by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,906,158 shares of the real estate investment trust’s stock worth $41,913,000 after purchasing an additional 88,949 shares during the last quarter. Norges Bank purchased a new stake in Sunstone Hotel Investors during the fourth quarter worth $14,656,000. Finally, Tributary Capital Management LLC grew its holdings in Sunstone Hotel Investors by 11.9% in the fourth quarter. Tributary Capital Management LLC now owns 1,338,167 shares of the real estate investment trust’s stock valued at $14,359,000 after purchasing an additional 142,105 shares during the last quarter. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Trading Down 0.6 %

Shares of Sunstone Hotel Investors stock opened at $10.16 on Friday. Sunstone Hotel Investors, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $11.59. The business’s fifty day moving average is $10.46 and its two-hundred day moving average is $10.64. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.07 billion, a PE ratio of 11.29, a P/E/G ratio of 4.85 and a beta of 1.23.

Sunstone Hotel Investors (NYSE:SHOGet Free Report) last released its earnings results on Monday, May 6th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.11). Sunstone Hotel Investors had a return on equity of 10.75% and a net margin of 20.69%. The business had revenue of $217.17 million for the quarter, compared to analysts’ expectations of $212.00 million. 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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.54%. This is an increase from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, June 28th. Sunstone Hotel Investors’s payout ratio is presently 28.89%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SHO shares. Robert W. Baird raised Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $11.00 to $12.00 in a research note on Tuesday, May 28th. Baird R W raised shares of Sunstone Hotel Investors to a “strong-buy” rating in a report on Tuesday, May 28th. Compass Point raised shares of Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $12.00 in a research note on Tuesday, May 7th. Truist Financial reduced their target price on Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Finally, StockNews.com raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.57.

Get Our Latest Analysis on SHO

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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