Strs Ohio Purchases New Position in Sunstone Hotel Investors, Inc. $SHO

Strs Ohio acquired a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,000 shares of the real estate investment trust’s stock, valued at approximately $358,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHO. Massachusetts Financial Services Co. MA purchased a new stake in shares of Sunstone Hotel Investors in the 1st quarter valued at about $42,838,000. Goldman Sachs Group Inc. boosted its holdings in shares of Sunstone Hotel Investors by 132.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,787,519 shares of the real estate investment trust’s stock valued at $26,231,000 after acquiring an additional 1,589,258 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Sunstone Hotel Investors by 251.0% during the first quarter. Alyeska Investment Group L.P. now owns 1,754,955 shares of the real estate investment trust’s stock worth $16,514,000 after acquiring an additional 1,254,955 shares during the last quarter. Nuveen LLC purchased a new position in shares of Sunstone Hotel Investors during the first quarter worth approximately $10,858,000. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Sunstone Hotel Investors by 45.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 3,576,897 shares of the real estate investment trust’s stock valued at $33,659,000 after acquiring an additional 1,125,543 shares during the period. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Trading Up 0.6%

NYSE:SHO opened at $9.65 on Wednesday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 482.49, a PEG ratio of 3.51 and a beta of 1.29. Sunstone Hotel Investors, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41. The stock has a fifty day moving average price of $9.20 and a two-hundred day moving average price of $8.97. 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 (NYSE:SHO) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The business had revenue of $259.77 million for the quarter, compared to analysts’ expectations of $256.68 million. Sunstone Hotel Investors had a net margin of 2.15% and a return on equity of 1.12%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. As a group, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.7%. Sunstone Hotel Investors’s dividend payout ratio is currently 1,800.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SHO. Wells Fargo & Company decreased their price target on shares of Sunstone Hotel Investors from $9.00 to $8.50 and set an “equal weight” rating for the company in a research note on Tuesday, July 1st. Evercore ISI increased their target price on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Truist Financial dropped their price target on Sunstone Hotel Investors from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. started 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. Finally, Wall Street Zen downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.93.

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.