Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 82,778 shares of the real estate investment trust’s stock after purchasing an additional 3,144 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sunstone Hotel Investors were worth $888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fox Run Management L.L.C. purchased a new position in shares of Sunstone Hotel Investors in the third quarter worth about $101,000. Versor Investments LP purchased a new position in Sunstone Hotel Investors during the third quarter worth approximately $112,000. Evergreen Capital Management LLC acquired a new position in Sunstone Hotel Investors during the third quarter worth $127,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Sunstone Hotel Investors in the 3rd quarter valued at $152,000. Finally, ProVise Management Group LLC acquired a new stake in shares of Sunstone Hotel Investors in the 3rd quarter worth $162,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $10.30 on Monday. Sunstone Hotel Investors, Inc. has a 1-year low of $8.61 and a 1-year high of $11.59. The stock has a 50-day moving average of $10.93 and a two-hundred day moving average of $10.49. The company has a market cap of $2.10 billion, a P/E ratio of 11.08, a P/E/G ratio of 4.03 and a beta of 1.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03.

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

Sunstone Hotel Investors Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.07 dividend. 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 2.72%. Sunstone Hotel Investors’s dividend payout ratio is currently 27.96%.

Analyst Upgrades and Downgrades

SHO has been the subject of several recent analyst reports. StockNews.com upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Truist Financial increased their price target on Sunstone Hotel Investors from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, Sunstone Hotel Investors presently has an average rating of “Hold” and a consensus target price of $10.00.

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.