DigitalBridge Group Inc. Sells 96,100 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

DigitalBridge Group Inc. cut its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 39.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,300 shares of the real estate investment trust's stock after selling 96,100 shares during the quarter. DigitalBridge Group Inc. owned approximately 0.07% of Sunstone Hotel Investors worth $1,732,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Sunstone Hotel Investors by 645.6% in the 4th quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust's stock valued at $98,929,000 after buying an additional 7,234,862 shares during the last quarter. Bank of America Corp DE boosted its holdings in Sunstone Hotel Investors by 23.0% in the fourth quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust's stock worth $77,760,000 after acquiring an additional 1,229,769 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its stake in Sunstone Hotel Investors by 22.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust's stock valued at $55,488,000 after purchasing an additional 851,104 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Sunstone Hotel Investors by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,156,930 shares of the real estate investment trust's stock worth $49,218,000 after purchasing an additional 74,952 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Sunstone Hotel Investors by 20.5% in the 4th quarter. Northern Trust Corp now owns 3,159,408 shares of the real estate investment trust's stock worth $37,407,000 after buying an additional 538,089 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company's stock.

Sunstone Hotel Investors Stock Up 7.5%

Sunstone Hotel Investors stock traded up $0.65 during midday trading on Monday, reaching $9.27. The company's stock had a trading volume of 1,323,292 shares, compared to its average volume of 2,364,455. The stock has a market capitalization of $1.84 billion, a P/E ratio of 12.18, a PEG ratio of 4.52 and a beta of 1.25. 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, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41. The stock's 50-day simple moving average is $8.94 and its 200-day simple moving average is $10.44.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $234.07 million for the quarter, compared to analyst estimates of $243.34 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. On average, sell-side analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 3.89%. Sunstone Hotel Investors's payout ratio is 360.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Evercore ISI dropped their target price on Sunstone Hotel Investors from $12.00 to $10.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Truist Financial lowered their price target on 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. Morgan Stanley decreased their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Bank of America raised Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price target for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their target price on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Sunstone Hotel Investors presently has a consensus rating of "Hold" and an average price target of $10.25.

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.