Edgestream Partners L.P. Makes New Investment in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Edgestream Partners L.P. acquired a new position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 125,638 shares of the real estate investment trust's stock, valued at approximately $1,182,000. Edgestream Partners L.P. owned about 0.06% of Sunstone Hotel Investors as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth $33,000. GF Fund Management CO. LTD. bought a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth $42,000. GAMMA Investing LLC grew its stake in shares of Sunstone Hotel Investors by 47.7% during the first quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock worth $45,000 after buying an additional 1,560 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of Sunstone Hotel Investors by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock worth $76,000 after buying an additional 5,701 shares during the last quarter. Finally, FIL Ltd lifted its holdings in shares of Sunstone Hotel Investors by 140.2% during the fourth quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust's stock worth $135,000 after purchasing an additional 6,634 shares during the period. 99.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SHO. Evercore ISI upgraded shares of Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price target on the stock in a report on Friday, May 16th. 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. Jefferies Financial Group dropped their target price on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Truist Financial dropped their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Finally, Wells Fargo & Company dropped 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. Three investment 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $8.93.

Sunstone Hotel Investors Stock Up 0.9%

SHO opened at $8.88 on Friday. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 88.80, a PEG ratio of 2.19 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a twelve month low of $7.45 and a twelve month high of $12.41. The company's 50-day moving average price is $8.86 and its two-hundred day moving average price is $9.65.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. Sunstone Hotel Investors had a net margin of 3.85% and a return on equity of 1.93%. The company had revenue of $234.07 million for the quarter, compared to analysts' expectations of $243.34 million. During the same period in the prior year, the company posted $0.18 EPS. Sunstone Hotel Investors's revenue was up 7.8% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Monday, June 30th. Sunstone Hotel Investors's payout ratio is 360.00%.

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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