Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,208 shares of the real estate investment trust’s stock after selling 5,312 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Sunstone Hotel Investors were worth $516,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Sunstone Hotel Investors by 5.2% in the first quarter. Principal Financial Group Inc. now owns 8,793,005 shares of the real estate investment trust’s stock valued at $82,742,000 after acquiring an additional 437,433 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Sunstone Hotel Investors by 11.7% in the first quarter. Illinois Municipal Retirement Fund now owns 106,237 shares of the real estate investment trust’s stock valued at $1,000,000 after acquiring an additional 11,145 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Sunstone Hotel Investors in the first quarter valued at approximately $200,000. GAMMA Investing LLC boosted its holdings in Sunstone Hotel Investors by 47.7% in the first quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in Sunstone Hotel Investors in the first quarter valued at approximately $217,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Trading Down 0.3%

SHO opened at $8.89 on Thursday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 88.85, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 52 week low of $7.45 and a 52 week high of $12.41. The business’s 50 day moving average is $8.84 and its two-hundred day moving average is $9.69. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.47.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping 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 company had revenue of $234.07 million during the quarter, compared to analysts’ expectations of $243.34 million. During the same period last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 4.05%. The ex-dividend date was Monday, June 30th. Sunstone Hotel Investors’s payout ratio is 360.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SHO. Evercore ISI raised Sunstone Hotel Investors from an “in-line” rating to an “outperform” rating and set a $10.00 price target for the company in a report on Friday, May 16th. Wells Fargo & Company lowered their price target on Sunstone Hotel Investors from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Tuesday, July 1st. JPMorgan Chase & Co. initiated coverage on Sunstone Hotel Investors in a report on Monday, June 23rd. They issued an “underweight” rating and a $8.00 price target for the company. Truist Financial reduced their target price 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. Finally, Jefferies Financial Group reduced their target price 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. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Sunstone Hotel Investors has a consensus rating of “Hold” and a consensus price target of $8.93.

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.