Sumitomo Mitsui Trust Group Inc. Has $2.08 Million Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 33.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 221,343 shares of the real estate investment trust's stock after selling 110,355 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.11% of Sunstone Hotel Investors worth $2,083,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GRS Advisors LLC acquired a new stake in shares of Sunstone Hotel Investors in the fourth quarter worth $22,980,000. Woodline Partners LP acquired a new stake in shares of Sunstone Hotel Investors in the fourth quarter worth about $17,309,000. Centersquare Investment Management LLC acquired a new stake in Sunstone Hotel Investors in the 4th quarter worth approximately $15,653,000. Bank of America Corp DE lifted its stake in shares of Sunstone Hotel Investors by 23.0% in the fourth quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust's stock worth $77,760,000 after buying an additional 1,229,769 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Sunstone Hotel Investors in the fourth quarter worth $8,659,000. Institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Price Performance

Sunstone Hotel Investors stock traded down $0.23 during mid-day trading on Monday, hitting $8.71. 1,493,634 shares of the company were exchanged, compared to its average volume of 2,531,316. The company has a market capitalization of $1.73 billion, a PE ratio of 87.45, a price-to-earnings-growth ratio of 2.24 and a beta of 1.25. The business has a fifty day moving average of $8.74 and a 200 day moving average of $9.83. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.47. Sunstone Hotel Investors, Inc. has a 1-year low of $7.45 and a 1-year high of $12.41.

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 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $234.07 million during the quarter, compared to analysts' expectations of $243.34 million. Sunstone Hotel Investors had a net margin of 3.85% and a return on equity of 1.93%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. As a group, sell-side analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.09 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.36 dividend on an annualized basis and a yield of 4.14%. Sunstone Hotel Investors's payout ratio is 360.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut their target price on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley cut their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Evercore ISI raised 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 report on Friday, May 16th. Bank of America upgraded Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price target for the company in a report on Wednesday, April 30th. Finally, Truist Financial cut their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $9.31.

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.