Invesco Ltd. Reduces Stock Position in Sunstone Hotel Investors, Inc. $SHO

Key Points

• Invesco Ltd. has reduced its stake in Sunstone Hotel Investors, Inc. by 6.0%, now owning approximately 0.83% of the company, equivalent to 1,657,782 shares valued at $15.6 million.
• Bank of America upgraded Sunstone Hotel Investors from "underperform" to "buy," setting a new price target of $10.00, while Evercore ISI increased their target from $10.00 to $11.00.
• Sunstone Hotel Investors declared a quarterly dividend of $0.09 per share, with a yield of 3.8%, scheduled for payment on October 15th.

Invesco Ltd. decreased its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,657,782 shares of the real estate investment trust's stock after selling 105,090 shares during the period. Invesco Ltd. owned 0.83% of Sunstone Hotel Investors worth $15,600,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Wolverine Asset Management LLC raised its position in Sunstone Hotel Investors by 1,098.6% in the first quarter. Wolverine Asset Management LLC now owns 260,429 shares of the real estate investment trust's stock worth $2,451,000 after acquiring an additional 238,701 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Sunstone Hotel Investors by 4.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 139,491 shares of the real estate investment trust's stock valued at $1,313,000 after purchasing an additional 6,232 shares in the last quarter. Centersquare Investment Management LLC grew its position in shares of Sunstone Hotel Investors by 9.2% during the 1st quarter. Centersquare Investment Management LLC now owns 1,443,154 shares of the real estate investment trust's stock valued at $13,580,000 after purchasing an additional 121,112 shares in the last quarter. Westwood Holdings Group Inc. grew 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 purchasing an additional 1,125,543 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Sunstone Hotel Investors during the 1st quarter valued at $143,000. Institutional investors own 99.37% of the company's stock.

Wall Street Analysts Forecast Growth

SHO has been the subject of a number of recent analyst reports. Bank of America upgraded shares of 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. JPMorgan Chase & Co. started coverage on shares of Sunstone Hotel Investors in a research note on Monday, June 23rd. They issued an "underweight" rating and a $8.00 price target for the company. 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 research note on Tuesday, July 1st. Finally, Evercore ISI boosted their price target on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $9.07.

Sunstone Hotel Investors Trading Down 1.5%

Shares of SHO stock traded down $0.1450 on Monday, hitting $9.4250. 1,687,969 shares of the company's stock traded hands, compared to its average volume of 2,319,240. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.73 and a current ratio of 2.73. Sunstone Hotel Investors, Inc. has a one year low of $7.45 and a one year high of $12.41. The company's fifty day simple moving average is $8.91 and its 200 day simple moving average is $9.14. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 471.49, a P/E/G ratio of 3.56 and a beta of 1.30.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its earnings results 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 company had revenue of $259.77 million for the quarter, compared to analyst estimates of $256.68 million. During the same quarter last year, the firm earned $0.28 EPS. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast 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 Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.36 annualized dividend and a yield of 3.8%. Sunstone Hotel Investors's dividend payout ratio is presently 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.