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

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SHO. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Sunstone Hotel Investors in the fourth quarter valued at about $190,000. GAMMA Investing LLC lifted 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 during the last quarter. Xponance Inc. lifted its position in Sunstone Hotel Investors by 10.9% in the fourth quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust's stock valued at $174,000 after buying an additional 1,441 shares during the last quarter. Natixis Advisors LLC lifted its position in Sunstone Hotel Investors by 19.0% in the fourth quarter. Natixis Advisors LLC now owns 84,116 shares of the real estate investment trust's stock valued at $996,000 after buying an additional 13,446 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Sunstone Hotel Investors in the fourth quarter valued at about $475,000. Hedge funds and other institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Stock Down 0.5%

SHO traded down $0.04 on Monday, reaching $8.84. The company's stock had a trading volume of 1,685,273 shares, compared to its average volume of 2,504,810. The stock has a 50 day moving average of $8.86 and a two-hundred day moving average of $9.62. 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 company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 88.40, a P/E/G ratio of 2.21 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a fifty-two week low of $7.45 and a fifty-two week 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, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $234.07 million during the quarter, compared to the consensus estimate of $243.34 million. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The company's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. As a group, analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Monday, June 30th. Sunstone Hotel Investors's dividend payout ratio (DPR) is presently 360.00%.

Wall Street Analyst Weigh In

SHO has been the topic of a number of recent analyst reports. Bank of America raised 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 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 set an "underweight" rating and a $8.00 price target on the stock. Morgan Stanley cut their price target on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. 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 on the stock in a research note on Tuesday, July 1st. Finally, Evercore ISI raised Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price objective for the company in a research report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $8.93.

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.