Alyeska Investment Group L.P. Acquires Shares of 500,000 Sunstone Hotel Investors, Inc. (NYSE:SHO)

Alyeska Investment Group L.P. purchased a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 500,000 shares of the real estate investment trust's stock, valued at approximately $5,920,000. Alyeska Investment Group L.P. owned 0.25% of Sunstone Hotel Investors as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth about $190,000. Schonfeld Strategic Advisors LLC purchased a new stake in Sunstone Hotel Investors during the 4th quarter worth approximately $2,088,000. Northern Trust Corp raised its holdings in shares of Sunstone Hotel Investors by 20.5% during the fourth quarter. Northern Trust Corp now owns 3,159,408 shares of the real estate investment trust's stock valued at $37,407,000 after acquiring an additional 538,089 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Sunstone Hotel Investors by 8.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,853,280 shares of the real estate investment trust's stock valued at $33,783,000 after acquiring an additional 228,812 shares in the last quarter. Finally, H 2 Credit Manager LP boosted its stake in shares of Sunstone Hotel Investors by 27.4% in the fourth quarter. H 2 Credit Manager LP now owns 2,788,210 shares of the real estate investment trust's stock worth $33,012,000 after acquiring an additional 600,000 shares during the last quarter. Hedge funds and other institutional investors own 99.37% of the company's stock.

Analyst Upgrades and Downgrades

SHO has been the topic of a number of research reports. Evercore ISI decreased their price objective on Sunstone Hotel Investors from $12.00 to $10.00 and set an "in-line" rating on the stock in a report on Monday, April 28th. Bank of America upgraded shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price target on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group cut their price objective on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Morgan Stanley decreased their target price on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial cut their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.25.

Sunstone Hotel Investors Trading Up 3.0 %

NYSE SHO traded up $0.25 during trading hours on Friday, reaching $8.62. The company had a trading volume of 5,443,633 shares, compared to its average volume of 2,368,271. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $1.71 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 4.52 and a beta of 1.25. The stock has a 50-day moving average of $8.94 and a 200 day moving average of $10.44. Sunstone Hotel Investors, Inc. has a 1-year low of $7.45 and a 1-year high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $234.07 million for the quarter, compared to the consensus estimate of $243.34 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.18 EPS. As a group, research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, June 30th. This represents a $0.36 annualized dividend and a yield of 4.18%. Sunstone Hotel Investors's payout ratio is 360.00%.

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.