Raymond James Financial Inc. Buys Shares of 104,635 Sunstone Hotel Investors, Inc. (NYSE:SHO)

Raymond James Financial Inc. bought a new stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 104,635 shares of the real estate investment trust’s stock, valued at approximately $1,239,000. Raymond James Financial Inc. owned about 0.05% of Sunstone Hotel Investors as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Sunstone Hotel Investors by 645.6% during the fourth quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust’s stock worth $98,929,000 after acquiring an additional 7,234,862 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Sunstone Hotel Investors by 31.0% in 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 buying an additional 1,130,558 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Sunstone Hotel Investors by 22.2% in 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 acquiring an additional 851,104 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Sunstone Hotel Investors by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,156,930 shares of the real estate investment trust’s stock worth $49,218,000 after purchasing an additional 74,952 shares during the period. Finally, William Blair Investment Management LLC grew its position in Sunstone Hotel Investors by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 2,387,239 shares of the real estate investment trust’s stock valued at $28,265,000 after buying an additional 58,234 shares during the period. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Price Performance

SHO stock opened at $8.72 on Friday. The company has a market capitalization of $1.75 billion, a PE ratio of 11.47, a P/E/G ratio of 4.52 and a beta of 1.16. Sunstone Hotel Investors, Inc. has a 12-month low of $7.45 and a 12-month high of $12.41. 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 business’s fifty day moving average price is $9.14 and its 200 day moving average price is $10.50.

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

Sunstone Hotel Investors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 4.13%. The ex-dividend date was Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 257.14%.

Analyst Ratings Changes

SHO has been the topic of a number of recent analyst reports. Evercore ISI lowered their price target on Sunstone Hotel Investors from $12.00 to $10.00 and set an “in-line” rating on the stock in a research report on Monday, April 28th. Bank of America raised shares of Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday. Jefferies Financial Group cut their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company cut their price target on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, Morgan Stanley lowered their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.44.

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.