Allianz Asset Management GmbH Cuts Stake in Sunstone Hotel Investors, Inc. $SHO

Allianz Asset Management GmbH cut its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 25.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 571,927 shares of the real estate investment trust’s stock after selling 199,259 shares during the quarter. Allianz Asset Management GmbH owned 0.30% of Sunstone Hotel Investors worth $5,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Sunstone Hotel Investors by 13.9% in the first quarter. Royal Bank of Canada now owns 69,862 shares of the real estate investment trust’s stock worth $658,000 after purchasing an additional 8,504 shares during the period. AQR Capital Management LLC lifted its stake in Sunstone Hotel Investors by 1.6% in the first quarter. AQR Capital Management LLC now owns 83,864 shares of the real estate investment trust’s stock worth $789,000 after purchasing an additional 1,307 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sunstone Hotel Investors by 3.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 119,358 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 3,607 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Sunstone Hotel Investors by 132.6% during the 1st 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 buying an additional 1,589,258 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of Sunstone Hotel Investors in the first quarter valued at approximately $120,000. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Price Performance

Shares of NYSE SHO opened at $9.38 on Wednesday. The firm has a 50-day simple moving average of $9.10 and a 200-day simple moving average of $9.20. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 11.12, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.55. Sunstone Hotel Investors, Inc. has a 52 week low of $7.45 and a 52 week high of $11.51.

Wall Street Analysts Forecast Growth

SHO has been the subject of a number of research reports. Wells Fargo & Company raised shares of Sunstone Hotel Investors from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $10.00 to $11.00 in a research note on Monday, January 5th. Zacks Research lowered Sunstone Hotel Investors from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Robert W. Baird reiterated a “neutral” rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a research note on Monday, January 12th. Wall Street Zen downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sunstone Hotel Investors in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.38.

Sunstone Hotel Investors Profile

Sunstone Hotel Investors, Inc (NYSE:SHO) is a publicly traded real estate investment trust (REIT) focused on acquiring, owning and asset‐managing upper‐upscale extended‐stay and premium‐branded hotel properties in the United States. The company’s business model centers on generating stable, long‐term cash flows through franchise agreements and third‐party management contracts with established hotel operators.

As of the most recent reporting period, Sunstone’s portfolio includes approximately 97 hotels and nearly 25,000 guest rooms across 19 states, with concentrations in major metropolitan and select high‐growth secondary markets.