Centersquare Investment Management LLC Buys 121,112 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Key Points

• Centersquare Investment Management LLC increased its stake in Sunstone Hotel Investors by 9.2%, now holding 1,443,154 shares worth approximately $13.58 million.
• Sunstone recently reported an earnings per share (EPS) of $0.21, exceeding analyst expectations of $0.18, with revenue reaching $234.07 million for the quarter.
• The stock has a market capitalization of $1.74 billion, and analysts currently have a consensus "Hold" rating with an average price target of $9.07.

Centersquare Investment Management LLC raised its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,443,154 shares of the real estate investment trust's stock after acquiring an additional 121,112 shares during the quarter. Centersquare Investment Management LLC owned about 0.72% of Sunstone Hotel Investors worth $13,580,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Sunstone Hotel Investors during the first quarter valued at about $42,838,000. GRS Advisors LLC bought a new stake in shares of Sunstone Hotel Investors in the 4th quarter worth approximately $22,980,000. Woodline Partners LP acquired a new stake in Sunstone Hotel Investors during the fourth quarter worth $17,309,000. Bank of America Corp DE increased its holdings in Sunstone Hotel Investors by 23.0% in the 4th quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust's stock valued at $77,760,000 after buying an additional 1,229,769 shares during the period. Finally, Westwood Holdings Group Inc. boosted its position in shares of Sunstone Hotel Investors by 45.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 3,576,897 shares of the real estate investment trust's stock valued at $33,659,000 after acquiring an additional 1,125,543 shares in the last quarter. 99.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHO. Evercore ISI upped their price objective on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Morgan Stanley lowered their price target on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Bank of America upgraded Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price objective for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. assumed coverage on shares of Sunstone Hotel Investors in a research note on Monday, June 23rd. They issued an "underweight" rating and a $8.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on shares of Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating for the company in a report on Tuesday, July 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Sunstone Hotel Investors has an average rating of "Hold" and a consensus price target of $9.07.

Sunstone Hotel Investors Trading Up 0.3%

Shares of Sunstone Hotel Investors stock traded up $0.03 during trading hours on Thursday, hitting $8.79. The company's stock had a trading volume of 2,146,480 shares, compared to its average volume of 1,847,301. Sunstone Hotel Investors, Inc. has a 12 month low of $7.45 and a 12 month high of $12.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.73 and a quick ratio of 2.89. The stock has a 50 day moving average of $8.85 and a 200 day moving average of $9.37. The company has a market capitalization of $1.75 billion, a PE ratio of 439.47, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.02. Sunstone Hotel Investors had a net margin of 2.15% and a return on equity of 1.12%. The firm had revenue of $259.77 million during the quarter, compared to analysts' expectations of $256.68 million. During the same quarter last year, the company posted $0.28 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.36 annualized dividend and a yield of 4.1%. Sunstone Hotel Investors's payout ratio is currently 1,800.00%.

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.