Sunstone Hotel Investors, Inc. $SHO Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 33.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,426 shares of the real estate investment trust’s stock after acquiring an additional 1,595 shares during the quarter. GAMMA Investing LLC’s holdings in Sunstone Hotel Investors were worth $56,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in Sunstone Hotel Investors during the 1st quarter worth about $10,858,000. Amundi raised its holdings in Sunstone Hotel Investors by 27.0% during the 1st quarter. Amundi now owns 1,040,883 shares of the real estate investment trust’s stock worth $8,983,000 after buying an additional 221,367 shares during the period. Northern Trust Corp raised its holdings in Sunstone Hotel Investors by 0.7% during the 1st quarter. Northern Trust Corp now owns 3,180,251 shares of the real estate investment trust’s stock worth $29,926,000 after buying an additional 20,843 shares during the period. Millennium Management LLC raised its holdings in Sunstone Hotel Investors by 14.4% during the 1st quarter. Millennium Management LLC now owns 2,392,774 shares of the real estate investment trust’s stock worth $22,516,000 after buying an additional 300,965 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Sunstone Hotel Investors during the 1st quarter worth about $1,504,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Down 0.1%

Shares of Sunstone Hotel Investors stock opened at $9.33 on Friday. The stock has a market capitalization of $1.77 billion, a P/E ratio of 466.48, a PEG ratio of 3.42 and a beta of 1.29. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $9.29 and a two-hundred day moving average price of $8.95. 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 posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The company had revenue of $259.77 million during the quarter, compared to analysts’ expectations of $256.68 million. During the same period in the prior year, the business earned $0.28 earnings per share. Sunstone Hotel Investors’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Sunstone Hotel Investors’s dividend payout ratio is currently 1,800.00%.

Wall Street Analyst Weigh In

SHO has been the topic of several recent analyst reports. Truist Financial cut their price objective on Sunstone Hotel Investors from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 3rd. JPMorgan Chase & Co. assumed coverage on Sunstone Hotel Investors in a research note on Monday, June 23rd. They set an “underweight” rating and a $8.00 target price on the stock. Wells Fargo & Company lowered their target price on Sunstone Hotel Investors from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Tuesday, July 1st. Evercore ISI lifted their target price on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Finally, Wall Street Zen cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Friday, September 5th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.