Russell Investments Group Ltd. Purchases 11,033 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Russell Investments Group Ltd. boosted its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,360 shares of the real estate investment trust’s stock after buying an additional 11,033 shares during the period. Russell Investments Group Ltd.’s holdings in Sunstone Hotel Investors were worth $1,188,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Sunstone Hotel Investors by 645.6% in the 4th quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust’s stock worth $98,929,000 after buying an additional 7,234,862 shares during the last quarter. Centersquare Investment Management LLC bought a new stake in Sunstone Hotel Investors during the fourth quarter worth approximately $15,653,000. JPMorgan Chase & Co. increased its stake in Sunstone Hotel Investors by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock worth $49,284,000 after acquiring an additional 1,130,558 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its position in Sunstone Hotel Investors by 22.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust’s stock valued at $55,488,000 after purchasing an additional 851,104 shares during the period. Finally, Norges Bank bought a new stake in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $8,659,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Up 0.7 %

NYSE:SHO opened at $8.22 on Monday. Sunstone Hotel Investors, Inc. has a twelve month low of $7.45 and a twelve month high of $12.41. The company’s 50 day moving average is $9.69 and its two-hundred day moving average is $10.64. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. The company has a market cap of $1.65 billion, a PE ratio of 10.81, a P/E/G ratio of 4.52 and a beta of 1.16.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $214.77 million during the quarter, compared to analysts’ expectations of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Monday, March 31st. Sunstone Hotel Investors’s payout ratio is currently 257.14%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SHO shares. Truist Financial cut their price target on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Jefferies Financial Group dropped their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company decreased their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $10.00 price objective on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Sunstone Hotel Investors currently has an average rating of “Hold” and an average target price of $11.00.

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.