Sunstone Hotel Investors, Inc. $SHO Shares Sold by Russell Investments Group Ltd.

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 position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 30.8% during the first quarter, according to its most recent Form 13F filing with the Securities & 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SHO. Mercer Global Advisors Inc. ADV acquired a new position in Sunstone Hotel Investors during the 4th quarter worth about $190,000. GAMMA Investing LLC increased its stake in Sunstone Hotel Investors by 47.7% during the first 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 during the period. Nuveen LLC acquired a new stake in shares of Sunstone Hotel Investors during the first quarter worth about $10,858,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Sunstone Hotel Investors in the first quarter valued at approximately $1,504,000. Finally, Deutsche Bank AG increased its stake in Sunstone Hotel Investors by 26.0% during the 4th quarter. Deutsche Bank AG now owns 260,224 shares of the real estate investment trust's stock worth $3,081,000 after buying an additional 53,740 shares during the period. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Stock Up 1.0%

NYSE SHO traded up $0.10 during trading on Thursday, reaching $9.59. 1,062,042 shares of the company's stock were exchanged, compared to its average volume of 2,288,039. The company has a 50 day moving average price of $9.03 and a two-hundred day moving average price of $9.08. The stock has a market cap of $1.82 billion, a P/E ratio of 479.49, a price-to-earnings-growth ratio of 3.48 and a beta of 1.29. Sunstone Hotel Investors, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.73 and a current ratio of 2.73.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued 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. The business had revenue of $259.77 million for the quarter, compared to analyst estimates of $256.68 million. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The business's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. On average, equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 3.8%. The ex-dividend date is Tuesday, September 30th. Sunstone Hotel Investors's payout ratio is currently 1,800.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SHO. Truist Financial decreased their price target on shares of Sunstone Hotel Investors from $11.00 to $10.00 and set a "hold" rating for the company in a research report on Wednesday. Wells Fargo & Company reduced their price objective on 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. JPMorgan Chase & Co. assumed coverage on Sunstone Hotel Investors in a research note on Monday, June 23rd. They set an "underweight" rating and a $8.00 target price for the company. Finally, Evercore ISI increased their price target on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $8.93.

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.