Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC raised its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 200.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 127,195 shares of the real estate investment trust's stock after buying an additional 84,824 shares during the period. Squarepoint Ops LLC owned about 0.06% of Sunstone Hotel Investors worth $1,506,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sunstone Hotel Investors during the 4th quarter valued at $33,000. Point72 Asset Management L.P. purchased a new stake in shares of Sunstone Hotel Investors in the 4th quarter worth $593,000. ProShare Advisors LLC increased its stake in shares of Sunstone Hotel Investors by 44.3% in the 4th quarter. ProShare Advisors LLC now owns 61,250 shares of the real estate investment trust's stock worth $725,000 after purchasing an additional 18,815 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its stake in shares of Sunstone Hotel Investors by 3.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 33,889 shares of the real estate investment trust's stock worth $406,000 after purchasing an additional 1,258 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Sunstone Hotel Investors by 28.9% in the 4th quarter. Millennium Management LLC now owns 2,091,809 shares of the real estate investment trust's stock worth $24,767,000 after purchasing an additional 469,086 shares in the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHO has been the subject of several analyst reports. 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. Truist Financial dropped their price objective on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a report on Friday, March 21st. Morgan Stanley lowered their price target on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Evercore ISI raised shares of Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price objective for the company in a research note on Friday, May 16th. Finally, Jefferies Financial Group reduced their target price on shares of 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 given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $10.00.

Sunstone Hotel Investors Stock Up 0.1%

NYSE SHO traded up $0.01 on Tuesday, hitting $8.89. The stock had a trading volume of 2,097,701 shares, compared to its average volume of 2,431,020. Sunstone Hotel Investors, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41. The business's fifty day moving average price is $8.57 and its 200 day moving average price is $10.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 4.52 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, topping 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 business had revenue of $234.07 million during the quarter, compared to the consensus estimate of $243.34 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.36 dividend on an annualized basis and a yield of 4.05%. Sunstone Hotel Investors's dividend payout ratio is presently 360.00%.

Sunstone Hotel Investors 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.