Russell Investments Group Ltd. Trims Holdings in Sunstone Hotel Investors, Inc. $SHO

Key Points

• Russell Investments Group Ltd. reduced its stake in Sunstone Hotel Investors, Inc. by 30.8% during the first quarter, selling 30,939 shares to hold a total of 69,421 shares valued at approximately $653,000.
• Several institutional investors have recently changed their positions in Sunstone, with notable new stakes from Massachusetts Financial Services Co. and GRS Advisors LLC representing significant investments in the company.
• Sunstone Hotel Investors announced a quarterly dividend of $0.09 per share, resulting in an annualized dividend yield of 3.8%, scheduled to be paid on October 15th.

Russell Investments Group Ltd. trimmed its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 30.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,421 shares of the real estate investment trust's stock after selling 30,939 shares during the period. Russell Investments Group Ltd.'s holdings in Sunstone Hotel Investors were worth $653,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SHO. Mercer Global Advisors Inc. ADV acquired a new stake in Sunstone Hotel Investors in the fourth quarter valued at approximately $190,000. GAMMA Investing LLC lifted its holdings in shares of Sunstone Hotel Investors by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 1,560 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Sunstone Hotel Investors in the 1st quarter worth $10,858,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Sunstone Hotel Investors during the 1st quarter worth $1,504,000. Finally, Deutsche Bank AG raised its stake in Sunstone Hotel Investors by 26.0% in the fourth quarter. Deutsche Bank AG now owns 260,224 shares of the real estate investment trust's stock valued at $3,081,000 after buying an additional 53,740 shares during the last quarter. Institutional investors own 99.37% of the company's stock.

Analyst Ratings Changes

SHO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. started coverage on 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. Truist Financial dropped their target price on shares of Sunstone Hotel Investors from $11.00 to $10.00 and set a "hold" rating on the stock in a research report on Wednesday. Evercore ISI raised their price target 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. Finally, Wells Fargo & Company dropped 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 report on Tuesday, July 1st. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Sunstone Hotel Investors currently has an average rating of "Hold" and a consensus target price of $8.93.

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock traded up $0.13 during midday trading on Wednesday, hitting $9.48. 1,191,828 shares of the company were exchanged, compared to its average volume of 2,381,639. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.73 and a current ratio of 2.73. The business has a fifty day simple moving average of $9.00 and a two-hundred day simple moving average of $9.09. Sunstone Hotel Investors, Inc. has a fifty-two week low of $7.45 and a fifty-two week high of $12.41. The firm has a market capitalization of $1.80 billion, a PE ratio of 474.49, a price-to-earnings-growth ratio of 3.52 and a beta of 1.29.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The business had revenue of $259.77 million during the quarter, compared to the consensus estimate of $256.68 million. During the same period in the prior year, the company posted $0.28 EPS. The business's quarterly revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.09 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.8%. Sunstone Hotel Investors's dividend payout ratio is 1,800.00%.

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.