Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 6.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 39,163 shares of the real estate investment trust’s stock after selling 2,823 shares during the period. Victory Capital Management Inc.’s holdings in Sunstone Hotel Investors were worth $404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in Sunstone Hotel Investors in the 2nd quarter valued at about $34,000. Quarry LP lifted its stake in Sunstone Hotel Investors by 584.1% in the 2nd quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 3,680 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Sunstone Hotel Investors in the 2nd quarter worth approximately $52,000. Harbor Capital Advisors Inc. purchased a new position in Sunstone Hotel Investors in the 3rd quarter worth approximately $59,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Sunstone Hotel Investors by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 1,937 shares in the last quarter. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Price Performance

Shares of NYSE SHO opened at $10.75 on Friday. The company has a 50 day simple moving average of $10.39 and a 200-day simple moving average of $10.26. The company has a market capitalization of $2.16 billion, a P/E ratio of 14.14, a P/E/G ratio of 5.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. Sunstone Hotel Investors, Inc. has a 1 year low of $9.39 and a 1 year high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $226.40 million for the quarter, compared to analyst estimates of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. On average, equities research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.09 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 3.35%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 42.11%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.42.

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.