Thrivent Financial for Lutherans Reduces Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Thrivent Financial for Lutherans trimmed its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,683 shares of the real estate investment trust’s stock after selling 9,396 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Sunstone Hotel Investors worth $1,648,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SHO. Federated Hermes Inc. purchased a new position in shares of Sunstone Hotel Investors during the second quarter valued at approximately $34,000. Quarry LP lifted its stake in shares of Sunstone Hotel Investors by 584.1% during 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 during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Sunstone Hotel Investors during the second quarter worth $52,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Sunstone Hotel Investors in the third quarter valued at $59,000. Finally, Blue Trust Inc. increased its stake in Sunstone Hotel Investors by 342.9% in the second quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust’s stock valued at $83,000 after purchasing an additional 5,734 shares during the last quarter. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock opened at $10.75 on Friday. 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 12 month low of $9.39 and a 12 month high of $11.59. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 5.69 and a beta of 1.25. The stock’s 50-day moving average is $10.39 and its 200-day moving average is $10.26.

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 for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The business had revenue of $226.40 million for the quarter, compared to analyst estimates of $224.61 million. During the same period last year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was down 8.6% on a year-over-year basis. Equities analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.