Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. trimmed its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,750,000 shares of the real estate investment trust's stock after selling 300,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.87% of Sunstone Hotel Investors worth $20,720,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 2,448 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Sunstone Hotel Investors by 114.1% in the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 1,743 shares during the period. Sterling Capital Management LLC raised its stake in shares of Sunstone Hotel Investors by 805.2% during the 4th quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock worth $76,000 after buying an additional 5,701 shares in the last quarter. KBC Group NV lifted its holdings in Sunstone Hotel Investors by 55.4% in the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust's stock valued at $108,000 after acquiring an additional 3,249 shares during the period. Finally, FIL Ltd boosted its position in shares of Sunstone Hotel Investors by 140.2% during the 4th quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust's stock worth $135,000 after purchasing an additional 6,634 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company's stock.

Sunstone Hotel Investors Trading Up 1.6 %

SHO stock traded up $0.14 on Friday, hitting $8.61. 1,515,404 shares of the company were exchanged, compared to its average volume of 2,339,156. Sunstone Hotel Investors, Inc. has a twelve month low of $7.45 and a twelve month high of $12.41. The business's fifty day moving average is $9.17 and its two-hundred day moving average is $10.51. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The company had revenue of $214.77 million during the quarter, compared to analyst estimates of $211.17 million. As a group, research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.36 annualized dividend and a dividend yield of 4.18%. Sunstone Hotel Investors's dividend payout ratio (DPR) is presently 257.14%.

Analysts Set New Price Targets

Several analysts recently commented on SHO shares. Wells Fargo & Company reduced their price objective on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Jefferies Financial Group decreased their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley dropped their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Evercore ISI cut their price target on Sunstone Hotel Investors from $12.00 to $10.00 and set an "in-line" rating for the company in a research note on Monday. Finally, Truist Financial cut their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Sunstone Hotel Investors has a consensus rating of "Hold" and an average target price of $10.44.

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.