Sunstone Hotel Investors, Inc. $SHO Shares Sold by Swiss National Bank

Swiss National Bank lessened its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 2.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 369,749 shares of the real estate investment trust’s stock after selling 10,200 shares during the quarter. Swiss National Bank owned approximately 0.19% of Sunstone Hotel Investors worth $3,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHO. Mercer Global Advisors Inc. ADV purchased a new stake in Sunstone Hotel Investors in the 4th quarter valued at about $190,000. GAMMA Investing LLC grew 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 purchasing an additional 1,560 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Sunstone Hotel Investors during the 1st quarter worth about $1,504,000. Waterfront Capital Partners LLC purchased a new stake in shares of Sunstone Hotel Investors during the 4th quarter worth about $2,219,000. Finally, Deutsche Bank AG grew its holdings in shares of Sunstone Hotel Investors by 26.0% during the 4th quarter. Deutsche Bank AG now owns 260,224 shares of the real estate investment trust’s stock worth $3,081,000 after purchasing an additional 53,740 shares during the period. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Analysts Set New Price Targets

SHO has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on Sunstone Hotel Investors in a report on Monday, June 23rd. They set an “underweight” rating and a $8.00 target price for the company. Wells Fargo & Company decreased their target price 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. Bank of America upgraded Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, April 30th. Finally, Evercore ISI boosted their target price on Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.07.

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock opened at $9.0350 on Thursday. The stock’s 50 day moving average price is $8.87 and its 200 day moving average price is $9.21. The firm has a market capitalization of $1.72 billion, a PE ratio of 451.98, a price-to-earnings-growth ratio of 3.37 and a beta of 1.30. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.73 and a current ratio of 2.73. Sunstone Hotel Investors, Inc. has a one year low of $7.45 and a one year high of $12.41.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $259.77 million for the quarter, compared to analyst estimates of $256.68 million. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.Sunstone Hotel Investors’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. As a group, sell-side analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.36 annualized dividend and a yield of 4.0%. Sunstone Hotel Investors’s payout ratio is 1,800.00%.

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.