Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH significantly decreased its stake in Sunstone Hotel Investors by 57.0%, reducing its holdings to approximately 762,992 shares.
• Analysts have mixed views on Sunstone Hotel Investors, with various price targets set between $7.00 and $11.00, and a general average rating of "Hold".
• The company announced a quarterly dividend of $0.09 per share, reflecting a 4.01% yield, despite a high payout ratio of 360.00%.

Allianz Asset Management GmbH decreased its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 57.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 762,992 shares of the real estate investment trust's stock after selling 1,012,615 shares during the period. Allianz Asset Management GmbH owned approximately 0.38% of Sunstone Hotel Investors worth $7,180,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SHO. Nissay Asset Management Corp Japan ADV raised its stake in Sunstone Hotel Investors by 3.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 33,889 shares of the real estate investment trust's stock valued at $406,000 after purchasing an additional 1,258 shares in the last quarter. Xponance Inc. increased its position in shares of Sunstone Hotel Investors by 10.9% during the 4th quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust's stock valued at $174,000 after purchasing an additional 1,441 shares during the last quarter. GAMMA Investing LLC increased its holdings in Sunstone Hotel Investors by 47.7% in the 1st 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 last quarter. Pitcairn Co. grew its holdings in Sunstone Hotel Investors by 9.2% during the 4th quarter. Pitcairn Co. now owns 31,473 shares of the real estate investment trust's stock valued at $373,000 after buying an additional 2,649 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sunstone Hotel Investors during the 4th quarter valued at about $33,000. Institutional investors own 99.37% of the company's stock.

Analysts Set New Price Targets

SHO has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley lowered their target price on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. initiated coverage on Sunstone Hotel Investors in a report on Monday, June 23rd. They issued an "underweight" rating and a $8.00 target price on the stock. Wells Fargo & Company reduced their price target on Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating for the company in a research report on Tuesday, July 1st. Finally, Bank of America upgraded 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. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Sunstone Hotel Investors has an average rating of "Hold" and a consensus target price of $9.07.

Sunstone Hotel Investors Trading Down 0.3%

Shares of Sunstone Hotel Investors stock traded down $0.03 on Thursday, reaching $8.77. The company had a trading volume of 461,958 shares, compared to its average volume of 2,366,648. Sunstone Hotel Investors, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 87.85, a P/E/G ratio of 1.98 and a beta of 1.25. The firm's 50-day moving average price is $8.86 and its two-hundred day moving average price is $9.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.89 and a quick ratio of 2.89.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its 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 company 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. As a group, research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.36 dividend on an annualized basis and a yield of 4.11%. Sunstone Hotel Investors's dividend payout ratio is currently 360.00%.

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.