Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 994.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 407,682 shares of the real estate investment trust’s stock after buying an additional 370,443 shares during the period. Victory Capital Management Inc. owned 0.20% of Sunstone Hotel Investors worth $3,836,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sunstone Hotel Investors during the fourth quarter worth about $33,000. GF Fund Management CO. LTD. purchased a new position in shares of Sunstone Hotel Investors during the 4th quarter worth $42,000. GAMMA Investing LLC increased its position 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 purchasing an additional 1,560 shares during the last quarter. Sterling Capital Management LLC raised its holdings in Sunstone Hotel Investors by 805.2% in the 4th quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 5,701 shares during the period. Finally, FIL Ltd boosted its stake in Sunstone Hotel Investors by 140.2% during the fourth quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 6,634 shares during the period. Institutional investors and hedge funds own 99.37% of the company’s stock.

Analyst Upgrades and Downgrades

SHO has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on Sunstone Hotel Investors in a research note on Monday, June 23rd. They issued an “underweight” rating and a $8.00 price objective 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 on the stock in a research note on Wednesday, April 30th. Morgan Stanley lowered their price target on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on shares of Sunstone Hotel Investors from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group dropped their price objective on shares of 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. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Sunstone Hotel Investors currently has an average rating of “Hold” and an average price target of $8.93.

Sunstone Hotel Investors Price Performance

NYSE:SHO opened at $9.03 on Monday. Sunstone Hotel Investors, Inc. has a one year low of $7.45 and a one year high of $12.41. The stock has a market cap of $1.79 billion, a P/E ratio of 90.25, a PEG ratio of 1.99 and a beta of 1.25. The company has a fifty day moving average price of $8.86 and a 200 day moving average price of $9.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.89 and a quick ratio of 2.89.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $243.34 million. During the same period in the prior year, the company posted $0.18 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date was Monday, June 30th. Sunstone Hotel Investors’s dividend payout ratio is currently 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.