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

State of Alaska Department of Revenue decreased its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,475 shares of the real estate investment trust’s stock after selling 4,708 shares during the period. State of Alaska Department of Revenue owned approximately 0.10% of Sunstone Hotel Investors worth $2,191,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Sunstone Hotel Investors during the first quarter worth $30,000. Federated Hermes Inc. purchased a new stake in Sunstone Hotel Investors during the second quarter worth about $34,000. Quarry LP grew its position in Sunstone Hotel Investors by 584.1% during the second quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 3,680 shares during the period. Plato Investment Management Ltd purchased a new position in Sunstone Hotel Investors in the first quarter valued at about $49,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Sunstone Hotel Investors during the 2nd quarter valued at approximately $52,000. 99.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SHO has been the topic of a number of research reports. Wolfe Research upgraded Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Wednesday, July 10th. StockNews.com cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective on the stock in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Sunstone Hotel Investors presently has an average rating of “Hold” and a consensus price target of $11.42.

Sunstone Hotel Investors Stock Up 0.4 %

SHO opened at $10.13 on Friday. The firm has a market cap of $2.06 billion, a P/E ratio of 12.35, a PEG ratio of 6.01 and a beta of 1.24. The business’s fifty day simple moving average is $10.28 and its 200 day simple moving average is $10.24. Sunstone Hotel Investors, Inc. has a 52 week low of $9.28 and a 52 week high of $11.59. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). The firm had revenue of $247.50 million for the quarter, compared to analyst estimates of $248.12 million. Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. Sunstone Hotel Investors’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 earnings per share. As a group, equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.85 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio is presently 39.02%.

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.