Nuveen LLC Invests $10.86 Million in Sunstone Hotel Investors, Inc. $SHO

Nuveen LLC bought a new stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,153,911 shares of the real estate investment trust’s stock, valued at approximately $10,858,000. Nuveen LLC owned about 0.58% of Sunstone Hotel Investors at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sunstone Hotel Investors during the fourth quarter valued at approximately $33,000. GF Fund Management CO. LTD. bought a new position in shares of Sunstone Hotel Investors during the fourth quarter valued at approximately $42,000. GAMMA Investing LLC grew its holdings in shares of Sunstone Hotel Investors by 47.7% during 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 during the last quarter. Federated Hermes Inc. bought a new position in shares of Sunstone Hotel Investors during the first quarter valued at approximately $124,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Sunstone Hotel Investors during the first quarter valued at approximately $143,000. 99.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America raised 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. Wells Fargo & Company lowered 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. Evercore ISI upped their target price on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. assumed coverage on Sunstone Hotel Investors in a research report on Monday, June 23rd. They set an “underweight” rating and a $8.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.07.

Sunstone Hotel Investors Stock Performance

Shares of NYSE SHO opened at $9.5550 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $8.90 and a 200-day simple moving average of $9.18. The company has a market cap of $1.82 billion, a PE ratio of 477.99, a P/E/G ratio of 3.38 and a beta of 1.30. Sunstone Hotel Investors, Inc. has a 12-month low of $7.45 and a 12-month high of $12.41.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $259.77 million during the quarter, compared to the consensus estimate of $256.68 million. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 earnings per share. On average, equities research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, September 30th. Sunstone Hotel Investors’s dividend 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.