Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 224,330 shares of the real estate investment trust’s stock after selling 3,696 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.11% of Sunstone Hotel Investors worth $2,405,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SHO. Advisors Asset Management Inc. increased its holdings in Sunstone Hotel Investors by 168.4% during the 4th quarter. Advisors Asset Management Inc. now owns 3,065 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 1,923 shares in the last quarter. State of Wyoming purchased a new position in shares of Sunstone Hotel Investors during the 2nd quarter worth approximately $30,000. Tower Research Capital LLC TRC raised its position in shares of Sunstone Hotel Investors by 56.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,257 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,537 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Sunstone Hotel Investors in the 1st quarter valued at approximately $91,000. Finally, Point72 Middle East FZE acquired a new stake in Sunstone Hotel Investors during the 4th quarter valued at $94,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHO. Wells Fargo & Company upped their price objective on Sunstone Hotel Investors from $9.50 to $10.00 and gave the company an “underweight” rating in a research report on Friday, December 22nd. Truist Financial raised their price target on shares of Sunstone Hotel Investors from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. StockNews.com raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. upgraded shares of Sunstone Hotel Investors from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $9.00 to $10.00 in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, Sunstone Hotel Investors has an average rating of “Hold” and a consensus target price of $10.00.

Sunstone Hotel Investors Trading Down 1.1 %

NYSE SHO opened at $10.86 on Friday. The company has a market cap of $2.21 billion, a P/E ratio of 11.67, a P/E/G ratio of 4.28 and a beta of 1.21. Sunstone Hotel Investors, Inc. has a 12 month low of $8.61 and a 12 month high of $11.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03. The company has a 50-day moving average of $10.99 and a 200-day moving average of $10.33.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.16 by $0.44. The firm had revenue of $219.20 million during the quarter, compared to analyst estimates of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. Sunstone Hotel Investors’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 earnings per share. As a group, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Wednesday, March 27th. Sunstone Hotel Investors’s payout ratio is currently 27.96%.

Sunstone Hotel Investors Company 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.