Charles Schwab Investment Management Inc. Has $38.67 Million Holdings in Sunstone Hotel Investors, Inc. $SHO

Charles Schwab Investment Management Inc. cut its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,109,392 shares of the real estate investment trust's stock after selling 47,538 shares during the period. Charles Schwab Investment Management Inc. owned about 2.04% of Sunstone Hotel Investors worth $38,669,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHO. Massachusetts Financial Services Co. MA acquired a new stake in shares of Sunstone Hotel Investors in the first quarter valued at approximately $42,838,000. GRS Advisors LLC acquired a new stake in shares of Sunstone Hotel Investors in the fourth quarter valued at approximately $22,980,000. Woodline Partners LP acquired a new stake in shares of Sunstone Hotel Investors in the fourth quarter valued at approximately $17,309,000. Bank of America Corp DE raised its holdings in shares of 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 valued at $77,760,000 after purchasing an additional 1,229,769 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in Sunstone Hotel Investors by 45.9% during the first quarter. Westwood Holdings Group Inc. now owns 3,576,897 shares of the real estate investment trust's stock worth $33,659,000 after buying an additional 1,125,543 shares during the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Sunstone Hotel Investors in a report on Monday, June 23rd. They set an "underweight" rating and a $8.00 target price on the stock. Morgan Stanley lowered 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 report on Tuesday, April 22nd. Evercore ISI boosted their target price on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Wells Fargo & Company lowered their target price on shares of Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating on the stock in a report on Tuesday, July 1st. Finally, Bank of America upgraded shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 target price on the stock in a report on Wednesday, April 30th. Two equities 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 data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $9.07.

Sunstone Hotel Investors Price Performance

NYSE:SHO opened at $9.00 on Monday. Sunstone Hotel Investors, Inc. has a one year low of $7.45 and a one year high of $12.41. The company has a market cap of $1.71 billion, a P/E ratio of 450.23, a P/E/G ratio of 3.35 and a beta of 1.30. The firm's fifty day moving average price is $8.87 and its two-hundred day moving average price is $9.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.73 and a quick ratio of 2.73.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $256.68 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company's quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts expect 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. This represents a $0.36 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Tuesday, September 30th. Sunstone Hotel Investors's payout ratio is currently 1,800.00%.

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.

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