Sunstone Hotel Investors, Inc. (NYSE:SHO) Stock Position Lowered by Arizona State Retirement System

Arizona State Retirement System lessened its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,021 shares of the real estate investment trust’s stock after selling 999 shares during the period. Arizona State Retirement System’s holdings in Sunstone Hotel Investors were worth $590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Sunstone Hotel Investors by 9.0% in the 3rd quarter. Vanguard Group Inc. now owns 34,473,209 shares of the real estate investment trust’s stock worth $324,738,000 after acquiring an additional 2,843,715 shares during the last quarter. State Street Corp grew its holdings in shares of Sunstone Hotel Investors by 26.5% in the 3rd quarter. State Street Corp now owns 13,652,726 shares of the real estate investment trust’s stock worth $129,260,000 after acquiring an additional 2,863,572 shares during the last quarter. Rush Island Management LP grew its holdings in shares of Sunstone Hotel Investors by 30.3% in the 3rd quarter. Rush Island Management LP now owns 9,579,732 shares of the real estate investment trust’s stock worth $89,570,000 after acquiring an additional 2,225,579 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Sunstone Hotel Investors by 21.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,734,593 shares of the real estate investment trust’s stock worth $44,268,000 after acquiring an additional 820,980 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Sunstone Hotel Investors by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 4,519,698 shares of the real estate investment trust’s stock worth $44,655,000 after acquiring an additional 174,083 shares during the last quarter. Institutional investors own 99.37% of the company’s stock.

Analysts Set New Price Targets

SHO has been the topic of a number of recent research reports. StockNews.com upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Wells Fargo & Company lifted their price target on Sunstone Hotel Investors from $9.50 to $10.00 and gave the company an “underweight” rating in a report on Friday, December 22nd. Finally, Truist Financial lifted their price target on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.00.

Sunstone Hotel Investors Price Performance

SHO opened at $10.22 on Friday. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 3.95 and a beta of 1.21. Sunstone Hotel Investors, Inc. has a 1 year low of $8.61 and a 1 year high of $11.59. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $10.97 and a 200 day moving average price of $10.44.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.44. The firm had revenue of $219.20 million during the quarter, compared to analysts’ expectations of $192.56 million. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. Analysts forecast that Sunstone Hotel Investors, Inc. will post 0.85 EPS for the current fiscal year.

Sunstone Hotel Investors Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 2.74%. Sunstone Hotel Investors’s payout ratio is 27.96%.

About Sunstone Hotel Investors

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.