Jacobs Levy Equity Management Inc. Purchases 151,461 Shares of Sunstone Hotel Investors, Inc. $SHO

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Sunstone Hotel Investors, acquiring 151,461 shares and totaling 1,380,640 shares, which is a 12.3% increase in ownership.
• Sunstone Hotel Investors reported $0.28 EPS for the last quarter, surpassing estimates, with revenues of $259.77 million, a 5.0% increase year-over-year.
• The company announced a quarterly dividend of $0.09, representing an annualized dividend of 3.8%, with a significant payout ratio of 1,800.00%.

Jacobs Levy Equity Management Inc. increased its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,380,640 shares of the real estate investment trust's stock after purchasing an additional 151,461 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.69% of Sunstone Hotel Investors worth $12,992,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC grew its stake in Sunstone Hotel Investors by 1.6% in the 1st quarter. AQR Capital Management LLC now owns 83,864 shares of the real estate investment trust's stock valued at $789,000 after buying an additional 1,307 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Sunstone Hotel Investors by 251.0% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,754,955 shares of the real estate investment trust's stock valued at $16,514,000 after buying an additional 1,254,955 shares in the last quarter. Amundi grew its stake in Sunstone Hotel Investors by 27.0% in the 1st quarter. Amundi now owns 1,040,883 shares of the real estate investment trust's stock valued at $8,983,000 after buying an additional 221,367 shares in the last quarter. Royal Bank of Canada grew its stake in Sunstone Hotel Investors by 13.9% in the 1st quarter. Royal Bank of Canada now owns 69,862 shares of the real estate investment trust's stock valued at $658,000 after buying an additional 8,504 shares in the last quarter. Finally, H 2 Credit Manager LP grew its stake in Sunstone Hotel Investors by 7.2% in the 1st quarter. H 2 Credit Manager LP now owns 2,988,210 shares of the real estate investment trust's stock valued at $28,119,000 after buying an additional 200,000 shares in the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Stock Up 1.3%

SHO traded up $0.12 during midday trading on Thursday, reaching $9.43. The company's stock had a trading volume of 1,035,253 shares, compared to its average volume of 2,354,844. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.51. Sunstone Hotel Investors, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 471.99, a PEG ratio of 3.44 and a beta of 1.29. The stock's 50-day moving average is $9.08 and its 200-day moving average is $9.03.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $259.77 million for 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 quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. As a group, research analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.36 annualized dividend and a dividend yield of 3.8%. Sunstone Hotel Investors's payout ratio is currently 1,800.00%.

Analyst Ratings Changes

SHO has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective 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. Truist Financial reduced their price target on shares of Sunstone Hotel Investors from $11.00 to $10.00 and set a "hold" rating for the company in a research report on Wednesday, September 3rd. Evercore ISI boosted their price target on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. began coverage on shares of Sunstone Hotel Investors in a research report on Monday, June 23rd. They set an "underweight" rating and a $8.00 price target for the company. Finally, Wall Street Zen lowered shares of Sunstone Hotel Investors from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $8.93.

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.