Nicola Wealth Management LTD. Has $559,000 Stock Holdings in Sunstone Hotel Investors, Inc. $SHO

Key Points

• Nicola Wealth Management LTD. reduced its stake in Sunstone Hotel Investors, Inc. by 35.4% in Q1, selling 32,543 shares, leaving it with 59,381 shares valued at approximately $559,000.
• Analysts' ratings for Sunstone Hotel Investors vary, with a consensus rating of "Hold" and a consensus price target of $8.93, as some firms have downgraded their positions.
• The company declared a quarterly dividend of $0.09 per share, with a 3.8% yield, and a payout ratio of 1,800.00%, indicating a significant portion of income is used for dividends.

Nicola Wealth Management LTD. cut its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 35.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 59,381 shares of the real estate investment trust's stock after selling 32,543 shares during the quarter. Nicola Wealth Management LTD.'s holdings in Sunstone Hotel Investors were worth $559,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV acquired a new position in Sunstone Hotel Investors during the fourth quarter worth about $190,000. GAMMA Investing LLC raised its holdings in shares of Sunstone Hotel Investors by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 1,560 shares in the last quarter. Nuveen LLC bought a new stake in shares of Sunstone Hotel Investors during the 1st quarter worth $10,858,000. Amundi boosted its position in shares of 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 purchasing an additional 221,367 shares during the period. Finally, Northern Trust Corp increased its stake in Sunstone Hotel Investors by 0.7% in the 1st quarter. Northern Trust Corp now owns 3,180,251 shares of the real estate investment trust's stock worth $29,926,000 after purchasing an additional 20,843 shares in the last quarter. Institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Price Performance

Shares of NYSE:SHO traded up $0.05 during trading on Wednesday, reaching $9.82. The stock had a trading volume of 771,938 shares, compared to its average volume of 2,365,720. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a market capitalization of $1.87 billion, a PE ratio of 491.35, a P/E/G ratio of 3.54 and a beta of 1.29. The business's 50-day moving average price is $9.14 and its 200 day moving average price is $9.00. 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 released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. The business had revenue of $259.77 million for the quarter, compared to analysts' expectations of $256.68 million. Sunstone Hotel Investors had a net margin of 2.15% and a return on equity of 1.12%. Sunstone Hotel Investors's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.7%. Sunstone Hotel Investors's payout ratio is 1,800.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SHO shares. JPMorgan Chase & Co. initiated coverage on Sunstone Hotel Investors in a research report on Monday, June 23rd. They issued an "underweight" rating and a $8.00 target price for the company. Truist Financial lowered their target price on Sunstone Hotel Investors from $11.00 to $10.00 and set a "hold" rating on the stock in a research note on Wednesday, September 3rd. Evercore ISI upped their target price on Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Wall Street Zen downgraded Sunstone Hotel Investors from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company lowered their price target on 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. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.