Martingale Asset Management L P Buys Shares of 240,037 Sunstone Hotel Investors, Inc. $SHO

Key Points

• Martingale Asset Management L P invested approximately $2.26 million in Sunstone Hotel Investors, acquiring 240,037 shares during the first quarter, representing about 0.12% of the company's stock.
• Sunstone Hotel Investors reported a 5.0% increase in revenue year-over-year, with an earnings per share (EPS) of $0.28, beating consensus estimates.
• The company announced a quarterly dividend of $0.09, scheduled to be paid on October 15, with a dividend yield of 3.8%.

Martingale Asset Management L P bought a new position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 240,037 shares of the real estate investment trust's stock, valued at approximately $2,259,000. Martingale Asset Management L P owned 0.12% of Sunstone Hotel Investors as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SHO. Massachusetts Financial Services Co. MA bought a new position in Sunstone Hotel Investors in the 1st quarter worth $42,838,000. GRS Advisors LLC bought a new position in Sunstone Hotel Investors in the 4th quarter worth $22,980,000. Woodline Partners LP bought a new position in Sunstone Hotel Investors in the 4th quarter worth $17,309,000. Bank of America Corp DE raised its holdings in Sunstone Hotel Investors by 23.0% in the 4th quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust's stock worth $77,760,000 after purchasing an additional 1,229,769 shares during the period. Finally, Nuveen LLC bought a new position in Sunstone Hotel Investors in the 1st quarter worth $10,858,000. 99.37% of the stock is owned by institutional investors.

Sunstone Hotel Investors Price Performance

Shares of Sunstone Hotel Investors stock traded down $0.1450 during trading on Monday, reaching $9.4250. 1,687,969 shares of the stock traded hands, compared to its average volume of 2,319,240. The company 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. The business has a fifty day simple moving average of $8.91 and a two-hundred day simple moving average of $9.14. 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, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.02. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The firm had revenue of $259.77 million during the quarter, compared to analyst estimates of $256.68 million. During the same quarter last year, the business posted $0.28 earnings per share. The business's quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

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 given a dividend of $0.09 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.36 dividend on an annualized basis and a yield of 3.8%. Sunstone Hotel Investors's dividend payout ratio is 1,800.00%.

Analyst Ratings Changes

A number of equities analysts recently commented on SHO shares. JPMorgan Chase & Co. started coverage on Sunstone Hotel Investors in a report on Monday, June 23rd. They issued an "underweight" rating and a $8.00 target price on the stock. Bank of America raised Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Wednesday, April 30th. Evercore ISI raised their price target on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Wells Fargo & Company decreased their price target on 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. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $9.07.

About Sunstone Hotel Investors

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.