SG Americas Securities LLC trimmed its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO – Get Rating) by 75.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 51,996 shares of the real estate investment trust’s stock after selling 163,010 shares during the quarter. SG Americas Securities LLC’s holdings in Sunstone Hotel Investors were worth $490,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new stake in Sunstone Hotel Investors during the 1st quarter valued at about $91,000. Mitsubishi UFJ Trust & Banking Corp grew its position in Sunstone Hotel Investors by 515.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,387 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 8,700 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in Sunstone Hotel Investors during the 3rd quarter valued at about $100,000. Mizuho Securities USA LLC purchased a new stake in Sunstone Hotel Investors during the 3rd quarter valued at about $105,000. Finally, Xponance Inc. grew its position in Sunstone Hotel Investors by 12.5% during the 2nd quarter. Xponance Inc. now owns 11,656 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 1,294 shares during the last quarter. 99.51% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sunstone Hotel Investors from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, October 25th. Truist Financial dropped their price target on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, December 5th. Morgan Stanley assumed coverage on shares of Sunstone Hotel Investors in a report on Monday, December 5th. They set an “underweight” rating and a $10.00 price target on the stock. StockNews.com downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Tuesday, November 15th. Finally, Barclays dropped their price target on shares of Sunstone Hotel Investors from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, January 10th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.17.
Sunstone Hotel Investors Price Performance
Sunstone Hotel Investors (NYSE:SHO – Get Rating) last released its earnings results on Tuesday, November 8th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.15). Sunstone Hotel Investors had a return on equity of 10.86% and a net margin of 24.29%. The firm had revenue of $244.31 million for the quarter, compared to the consensus estimate of $235.14 million. Equities research analysts expect that Sunstone Hotel Investors, Inc. will post 0.81 EPS for the current year.
Sunstone Hotel Investors Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, December 29th. Sunstone Hotel Investors’s payout ratio is 11.24%.
About Sunstone Hotel Investors
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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