Public Sector Pension Investment Board Grows Stock Holdings in Sunstone Hotel Investors, Inc. $SHO

Key Points

• The Public Sector Pension Investment Board increased its holdings in Sunstone Hotel Investors, Inc. by 27.3%, owning 637,090 shares worth approximately $6 million as of its latest SEC filing.
• Multiple analysts have set varied price targets for Sunstone Hotel Investors with estimates ranging from $7.00 to $11.00, reflecting mixed sentiments about the company's stock performance.
• Sunstone Hotel Investors recently declared a quarterly dividend of $0.09, which translates to an annualized dividend yield of 4.0%, despite a significant dividend payout ratio of 1,800.00%.

Public Sector Pension Investment Board lifted its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 27.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 637,090 shares of the real estate investment trust's stock after buying an additional 136,539 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of Sunstone Hotel Investors worth $5,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SHO. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sunstone Hotel Investors in the fourth quarter worth approximately $33,000. GF Fund Management CO. LTD. bought a new position in Sunstone Hotel Investors in the fourth quarter worth approximately $42,000. GAMMA Investing LLC raised 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 worth $45,000 after acquiring an additional 1,560 shares during the period. Sterling Capital Management LLC raised its position in Sunstone Hotel Investors by 805.2% in the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock worth $76,000 after acquiring an additional 5,701 shares during the period. Finally, Federated Hermes Inc. bought a new stake in shares of Sunstone Hotel Investors during the 1st quarter valued at $124,000. Hedge funds and other institutional investors own 99.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating on the stock in a research report on Tuesday, July 1st. JPMorgan Chase & Co. initiated coverage on shares of Sunstone Hotel Investors in a research note on Monday, June 23rd. They issued an "underweight" rating and a $8.00 price objective for the company. Bank of America raised shares of 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. Finally, Evercore ISI raised their target price on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Sunstone Hotel Investors currently has an average rating of "Hold" and an average target price of $9.07.

Sunstone Hotel Investors Stock Up 0.6%

Shares of NYSE SHO traded up $0.0550 during trading hours on Thursday, hitting $9.0950. 2,059,214 shares of the stock were exchanged, compared to its average volume of 2,276,063. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.51. The company has a market cap of $1.73 billion, a PE ratio of 454.98, a PEG ratio of 3.36 and a beta of 1.30. The firm has a fifty day moving average price of $8.88 and a 200-day moving average price of $9.19. Sunstone Hotel Investors, Inc. has a 12 month low of $7.45 and a 12 month high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $259.77 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. On average, sell-side analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently announced 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. This represents a $0.36 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Sunstone Hotel Investors's payout ratio is currently 1,800.00%.

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.