Swiss National Bank trimmed its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO – Free Report) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 387,949 shares of the real estate investment trust’s stock after selling 44,600 shares during the quarter. Swiss National Bank owned 0.19% of Sunstone Hotel Investors worth $4,163,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of SHO. Fox Run Management L.L.C. bought a new stake in shares of Sunstone Hotel Investors during the 3rd quarter worth $101,000. Versor Investments LP bought a new stake in Sunstone Hotel Investors in the third quarter worth about $112,000. Evergreen Capital Management LLC purchased a new position in Sunstone Hotel Investors in the third quarter valued at about $127,000. Heritage Wealth Management LLC bought a new position in shares of Sunstone Hotel Investors during the 4th quarter valued at approximately $163,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Sunstone Hotel Investors during the 3rd quarter worth approximately $152,000. 99.37% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Compass Point raised Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and increased their price objective for the company from $10.00 to $12.00 in a report on Tuesday, May 7th. StockNews.com raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Truist Financial upped their price objective on shares of Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.50.
Read Our Latest Research Report on SHO
Sunstone Hotel Investors Stock Performance
NYSE SHO opened at $10.41 on Monday. The company’s 50 day moving average is $10.67 and its 200-day moving average is $10.59. Sunstone Hotel Investors, Inc. has a 12-month low of $8.61 and a 12-month high of $11.59. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.12 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 5.02 and a beta of 1.22.
Sunstone Hotel Investors (NYSE:SHO – Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.16 by $0.44. The company had revenue of $219.20 million during the quarter, compared to analysts’ expectations of $192.56 million. Sunstone Hotel Investors had a net margin of 20.69% and a return on equity of 10.75%. Sunstone Hotel Investors’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share. Sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.88 earnings per share for the current year.
Sunstone Hotel Investors Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 3.46%. This is a boost from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. Sunstone Hotel Investors’s payout ratio is currently 28.89%.
Sunstone Hotel Investors Profile
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.
Further Reading
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