Hsbc Holdings PLC Acquires 18,938 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Hsbc Holdings PLC grew its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,206 shares of the real estate investment trust’s stock after acquiring an additional 18,938 shares during the period. Hsbc Holdings PLC owned 0.09% of Sunstone Hotel Investors worth $1,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. EntryPoint Capital LLC bought a new position in Sunstone Hotel Investors in the first quarter valued at approximately $30,000. Federated Hermes Inc. acquired a new stake in shares of Sunstone Hotel Investors in the 2nd quarter valued at approximately $34,000. Plato Investment Management Ltd bought a new position in shares of Sunstone Hotel Investors in the first quarter valued at $49,000. 1620 Investment Advisors Inc. acquired a new position in Sunstone Hotel Investors during the second quarter worth $52,000. Finally, Blue Trust Inc. raised its position in Sunstone Hotel Investors by 342.9% during the second quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 5,734 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Performance

NYSE:SHO opened at $10.58 on Friday. The stock has a 50 day simple moving average of $10.18 and a 200 day simple moving average of $10.37. The stock has a market cap of $2.15 billion, a P/E ratio of 11.76, a PEG ratio of 4.50 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 1-year low of $9.03 and a 1-year high of $11.59. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The firm had revenue of $247.50 million for the quarter, compared to analyst estimates of $248.12 million. During the same period in the prior year, the business posted $0.33 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. Research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.88 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.09 per share. The ex-dividend date is Monday, September 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.40%. Sunstone Hotel Investors’s payout ratio is presently 33.33%.

Analyst Ratings Changes

SHO has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective for the company in a research report on Friday, September 13th. StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Wolfe Research raised Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Wednesday, July 10th. Finally, Truist Financial dropped their price target 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sunstone Hotel Investors currently has an average rating of “Hold” and an average target price of $11.07.

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.