Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Acquired by Millennium Management LLC

Millennium Management LLC raised its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,091,809 shares of the real estate investment trust's stock after buying an additional 469,086 shares during the quarter. Millennium Management LLC owned 1.04% of Sunstone Hotel Investors worth $24,767,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 2,448 shares during the period. Sterling Capital Management LLC increased its holdings in shares of Sunstone Hotel Investors by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock valued at $76,000 after acquiring an additional 5,701 shares in the last quarter. KBC Group NV increased its holdings in shares of Sunstone Hotel Investors by 55.4% during the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust's stock valued at $108,000 after acquiring an additional 3,249 shares in the last quarter. FIL Ltd increased its holdings in shares of Sunstone Hotel Investors by 140.2% during the fourth quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust's stock valued at $135,000 after acquiring an additional 6,634 shares in the last quarter. Finally, Longboard Asset Management LP bought a new stake in shares of Sunstone Hotel Investors during the fourth quarter valued at approximately $141,000. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Stock Up 0.9%

Shares of NYSE SHO traded up $0.08 during trading on Thursday, reaching $8.67. The company had a trading volume of 2,169,022 shares, compared to its average volume of 2,400,002. Sunstone Hotel Investors, Inc. has a 12-month low of $7.45 and a 12-month high of $12.41. The stock has a market cap of $1.72 billion, a PE ratio of 11.40, a P/E/G ratio of 4.52 and a beta of 1.25. The business's 50-day moving average is $8.72 and its 200 day moving average is $10.35. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm had revenue of $234.07 million for the quarter, compared to analysts' expectations of $243.34 million. During the same quarter last year, the business posted $0.18 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.09 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 4.15%. Sunstone Hotel Investors's payout ratio is currently 360.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SHO shares. Truist Financial decreased their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a report on Friday, March 21st. Bank of America upgraded Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price objective for the company in a research note on Wednesday, April 30th. Morgan Stanley reduced their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Evercore ISI raised Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price target on the stock in a research report on Friday, May 16th. Finally, Jefferies Financial Group dropped their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $10.25.

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.