Envestnet Asset Management Inc. Has $2.94 Million Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Envestnet Asset Management Inc. cut its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,084 shares of the real estate investment trust’s stock after selling 27,103 shares during the period. Envestnet Asset Management Inc. owned 0.12% of Sunstone Hotel Investors worth $2,937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 2,448 shares during the last quarter. GAMMA Investing LLC raised its position in Sunstone Hotel Investors by 114.1% in the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,743 shares during the last quarter. KBC Group NV boosted its stake in Sunstone Hotel Investors by 55.4% in the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust’s stock worth $108,000 after purchasing an additional 3,249 shares in the last quarter. Longboard Asset Management LP bought a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth $141,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sunstone Hotel Investors in the fourth quarter valued at $167,000. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Sunstone Hotel Investors Stock Up 2.3 %

SHO stock opened at $8.25 on Friday. The business has a 50-day moving average of $9.38 and a 200-day moving average of $10.56. Sunstone Hotel Investors, Inc. has a fifty-two week low of $7.45 and a fifty-two week high of $12.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market capitalization of $1.66 billion, a P/E ratio of 10.85, 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, topping analysts’ consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The firm had revenue of $214.77 million for the quarter, compared to the consensus estimate of $211.17 million. On average, sell-side analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio is presently 257.14%.

Analysts Set New Price Targets

SHO has been the topic of a number of research analyst reports. Truist Financial decreased their price objective 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 target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley dropped their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company reduced their target price on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sunstone Hotel Investors presently has an average rating of “Hold” and a consensus target price of $10.57.

Sunstone Hotel Investors 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.