GAMMA Investing LLC Acquires 42,189 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

GAMMA Investing LLC grew its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 1,289.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,460 shares of the real estate investment trust's stock after buying an additional 42,189 shares during the quarter. GAMMA Investing LLC's holdings in Sunstone Hotel Investors were worth $428,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sunstone Hotel Investors in the fourth quarter worth about $33,000. Smartleaf Asset Management LLC grew its stake in shares of Sunstone Hotel Investors by 442.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 2,448 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $42,000. Sterling Capital Management LLC raised its holdings in shares of Sunstone Hotel Investors by 805.2% in the 4th quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock worth $76,000 after buying an additional 5,701 shares in the last quarter. Finally, FIL Ltd lifted its position in shares of Sunstone Hotel Investors by 140.2% during the 4th quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust's stock worth $135,000 after buying an additional 6,634 shares during the period. 99.37% of the stock is owned by institutional investors.

Sunstone Hotel Investors Price Performance

NYSE SHO traded down $0.03 on Friday, hitting $8.68. 4,814,285 shares of the company were exchanged, compared to its average volume of 2,516,665. Sunstone Hotel Investors, Inc. has a 1-year low of $7.45 and a 1-year high of $12.41. The firm has a 50 day moving average of $8.62 and a two-hundred day moving average of $10.09. The company has a market cap of $1.73 billion, a P/E ratio of 86.75, a P/E/G ratio of 2.18 and a beta of 1.27. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.47.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $234.07 million for the quarter, compared to analyst estimates of $243.34 million. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, June 30th. Sunstone Hotel Investors's dividend payout ratio is 360.00%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial decreased their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. Morgan Stanley reduced their target price on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Bank of America upgraded shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 target price for the company in a research report on Wednesday, April 30th. Evercore ISI raised shares of Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price target for the company in a report on Friday, May 16th. Finally, Jefferies Financial Group reduced their price target 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 research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Sunstone Hotel Investors presently has a consensus rating of "Hold" and an average price target of $10.00.

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.