Boothbay Fund Management LLC Invests $3.99 Million in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Boothbay Fund Management LLC bought a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 336,605 shares of the real estate investment trust's stock, valued at approximately $3,985,000. Boothbay Fund Management LLC owned about 0.17% of Sunstone Hotel Investors at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SHO. Barclays PLC lifted its stake in Sunstone Hotel Investors by 304.9% during the 3rd quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust's stock valued at $3,540,000 after acquiring an additional 258,302 shares in the last quarter. Principal Financial Group Inc. raised its stake in Sunstone Hotel Investors by 11.6% in the third quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust's stock valued at $11,566,000 after purchasing an additional 116,058 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Sunstone Hotel Investors by 31.0% in the third quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust's stock valued at $49,284,000 after acquiring an additional 1,130,558 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Sunstone Hotel Investors by 114.1% during the fourth 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 in the last quarter. Finally, Diversified Trust Co lifted its stake in Sunstone Hotel Investors by 13.7% in the fourth quarter. Diversified Trust Co now owns 40,697 shares of the real estate investment trust's stock worth $482,000 after purchasing an additional 4,897 shares during the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sunstone Hotel Investors Price Performance

Shares of SHO traded up $0.18 during mid-day trading on Friday, hitting $8.65. 1,694,955 shares of the stock were exchanged, compared to its average volume of 2,339,796. The firm has a 50-day moving average of $9.17 and a two-hundred day moving average of $10.51. Sunstone Hotel Investors, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market cap of $1.74 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16.

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

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.09 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.36 dividend on an annualized basis and a yield of 4.16%. Sunstone Hotel Investors's dividend payout ratio is presently 257.14%.

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.