Centersquare Investment Management LLC Acquires 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 lifted its position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 approximately 0.72% of Sunstone Hotel Investors worth $13,580,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sunstone Hotel Investors in the 4th quarter valued at approximately $33,000. GF Fund Management CO. LTD. acquired a new position in Sunstone Hotel Investors in the 4th quarter valued at approximately $42,000. GAMMA Investing LLC increased its stake in Sunstone Hotel Investors by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 1,560 shares during the period. Sterling Capital Management LLC increased its stake in Sunstone Hotel Investors by 805.2% in the 4th quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock valued at $76,000 after buying an additional 5,701 shares during the period. Finally, FIL Ltd increased its stake in Sunstone Hotel Investors by 140.2% in the 4th quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust's stock valued at $135,000 after buying an additional 6,634 shares during the period. Institutional investors and hedge funds own 99.37% of the company's stock.

Analyst Ratings Changes

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

Sunstone Hotel Investors Stock Down 0.7%

SHO stock traded down $0.06 during trading hours on Friday, hitting $8.73. The company's stock had a trading volume of 2,385,582 shares, compared to its average volume of 1,872,875. The company has a quick ratio of 2.89, a current ratio of 2.73 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.66 billion, a PE ratio of 436.72, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. Sunstone Hotel Investors, Inc. has a 12 month low of $7.45 and a 12 month high of $12.41. The stock has a 50 day moving average price of $8.85 and a two-hundred day moving average price of $9.35.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The company had revenue of $259.77 million during the quarter, compared to the consensus estimate of $256.68 million. Sunstone Hotel Investors had a net margin of 2.15% and a return on equity of 1.12%. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 earnings per share. On average, equities research analysts expect 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 will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, September 30th. Sunstone Hotel Investors's dividend payout ratio (DPR) is 1,800.00%.

Sunstone Hotel Investors Company 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.