Massachusetts Financial Services Co. MA Makes New Investment in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Massachusetts Financial Services Co. MA purchased a new stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,552,389 shares of the real estate investment trust's stock, valued at approximately $42,838,000. Massachusetts Financial Services Co. MA owned 2.26% of Sunstone Hotel Investors at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV bought a new stake in Sunstone Hotel Investors in the 4th quarter valued at $190,000. GAMMA Investing LLC boosted its position in Sunstone Hotel Investors by 47.7% in the first quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 1,560 shares in the last quarter. Xponance Inc. raised its stake in shares of Sunstone Hotel Investors by 10.9% during the fourth quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust's stock valued at $174,000 after acquiring an additional 1,441 shares during the last quarter. Natixis Advisors LLC raised its stake in Sunstone Hotel Investors by 19.0% during the fourth quarter. Natixis Advisors LLC now owns 84,116 shares of the real estate investment trust's stock worth $996,000 after buying an additional 13,446 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Sunstone Hotel Investors in the fourth quarter worth $475,000. Institutional investors own 99.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SHO. Wells Fargo & Company cut 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. JPMorgan Chase & Co. assumed coverage on shares of Sunstone Hotel Investors in a research note on Monday, June 23rd. They set an "underweight" rating and a $8.00 target price on the stock. Jefferies Financial Group cut their target price on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Truist Financial lowered their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Finally, Morgan Stanley reduced their target price on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $8.93.

Sunstone Hotel Investors Stock Down 0.6%

SHO opened at $8.84 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.89 and a current ratio of 2.89. The company has a market capitalization of $1.76 billion, a PE ratio of 88.35, a P/E/G ratio of 2.21 and a beta of 1.25. The stock's fifty day moving average is $8.85 and its 200-day moving average is $9.67. Sunstone Hotel Investors, Inc. has a one year low of $7.45 and a one year high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The business had revenue of $234.07 million during the quarter, compared to analysts' expectations of $243.34 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The firm's revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.09 per share. The ex-dividend date was Monday, June 30th. This represents a $0.36 annualized dividend and a yield of 4.07%. Sunstone Hotel Investors's dividend payout ratio is currently 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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