Victory Capital Management Inc. lifted its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO – Get Rating) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,778,467 shares of the real estate investment trust’s stock after buying an additional 86,750 shares during the period. Victory Capital Management Inc. owned approximately 0.81% of Sunstone Hotel Investors worth $20,965,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in SHO. CWM LLC lifted its stake in shares of Sunstone Hotel Investors by 431.9% during the first quarter. CWM LLC now owns 2,521 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,047 shares during the period. UMB Bank N A MO acquired a new position in Sunstone Hotel Investors during the fourth quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Sunstone Hotel Investors by 53.8% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,972 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,390 shares during the period. Pinebridge Investments L.P. acquired a new position in Sunstone Hotel Investors during the fourth quarter valued at $50,000. Finally, FourThought Financial LLC lifted its position in Sunstone Hotel Investors by 19.4% during the first quarter. FourThought Financial LLC now owns 7,553 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 1,226 shares during the period.
Analysts Set New Price Targets
A number of research analysts recently issued reports on SHO shares. StockNews.com upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. Evercore ISI restated an “outperform” rating and set a $13.00 target price on shares of Sunstone Hotel Investors in a research report on Monday, July 11th. Finally, Truist Financial boosted their target price on shares of Sunstone Hotel Investors from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, June 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sunstone Hotel Investors presently has a consensus rating of “Hold” and an average target price of $12.57.
Sunstone Hotel Investors Trading Down 1.9 %
Sunstone Hotel Investors (NYSE:SHO – Get Rating) last released its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $172.30 million for the quarter, compared to analysts’ expectations of $157.67 million. Sunstone Hotel Investors had a return on equity of 5.20% and a net margin of 15.57%. The firm’s revenue for the quarter was up 240.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.13) EPS. As a group, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.78 earnings per share for the current fiscal year.
Sunstone Hotel Investors Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.82%.
Sunstone Hotel Investors Profile
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release has interests in 19 hotels comprised of 9,997 rooms. Sunstone's business is to acquire, own, asset manage and renovate or reposition hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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