Asset Management One Co. Ltd. Sells 19,755 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Asset Management One Co. Ltd. lessened its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 489,177 shares of the real estate investment trust’s stock after selling 19,755 shares during the period. Asset Management One Co. Ltd. owned 0.24% of Sunstone Hotel Investors worth $4,603,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sunstone Hotel Investors during the 4th quarter worth $33,000. Smartleaf Asset Management LLC raised its holdings in shares of Sunstone Hotel Investors by 442.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 2,448 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Sunstone Hotel Investors during the 4th quarter worth $42,000. GAMMA Investing LLC raised its holdings in shares of Sunstone Hotel Investors by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,560 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Sunstone Hotel Investors by 805.2% during the 4th quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 5,701 shares in the last quarter. Institutional investors own 99.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SHO shares. Jefferies Financial Group lowered their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Truist Financial lowered their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. started coverage on Sunstone Hotel Investors in a report on Monday, June 23rd. They set an “underweight” rating and a $8.00 price target for the company. Bank of America raised Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 price target for the company in a report on Wednesday, April 30th. Finally, Morgan Stanley lowered their target price on Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Sunstone Hotel Investors presently has an average rating of “Hold” and an average price target of $9.75.

Sunstone Hotel Investors Price Performance

Shares of SHO opened at $8.90 on Friday. Sunstone Hotel Investors, Inc. has a 12-month low of $7.45 and a 12-month high of $12.41. The business has a 50-day simple moving average of $8.67 and a two-hundred day simple moving average of $9.96. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.77 billion, a PE ratio of 88.95, a PEG ratio of 2.24 and a beta of 1.27.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The firm had revenue of $234.07 million for the quarter, compared to analyst estimates of $243.34 million. During the same quarter in the previous year, the company posted $0.18 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.09 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.05%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 360.00%.

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.