Sumitomo Mitsui Trust Group Inc. reduced its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 33.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Illinois Municipal Retirement Fund boosted its position in Sunstone Hotel Investors by 11.7% during the first quarter. Illinois Municipal Retirement Fund now owns 106,237 shares of the real estate investment trust's stock worth $1,000,000 after purchasing an additional 11,145 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Sunstone Hotel Investors in the first quarter valued at $200,000. 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 acquiring an additional 1,560 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in Sunstone Hotel Investors during the first quarter worth about $217,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Sunstone Hotel Investors in the fourth quarter valued at about $42,000. 99.37% of the stock is currently owned by hedge funds and other institutional investors.
Sunstone Hotel Investors Stock Performance
SHO traded up $0.20 on Tuesday, hitting $9.00. 1,789,224 shares of the stock traded hands, compared to its average volume of 2,534,759. Sunstone Hotel Investors, Inc. has a 52 week low of $7.45 and a 52 week high of $12.41. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.79 billion, a PE ratio of 90.00, a P/E/G ratio of 2.19 and a beta of 1.25. The business has a fifty day moving average price of $8.77 and a two-hundred day moving average price of $9.80.
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. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The firm had revenue of $234.07 million for the quarter, compared to analyst estimates of $243.34 million. During the same period in the previous year, the company posted $0.18 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.
Sunstone Hotel Investors Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, June 30th. This represents a $0.36 annualized dividend and a yield of 4.00%. Sunstone Hotel Investors's dividend payout ratio is 360.00%.
Analyst Ratings Changes
SHO has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating for the company in a research note on Tuesday, July 1st. Morgan Stanley cut their price target 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. Jefferies Financial Group cut their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Truist Financial lowered their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research report on Friday, March 21st. Finally, 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. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $9.31.
Check Out Our Latest Report on Sunstone Hotel Investors
Sunstone Hotel Investors Profile
(
Free Report)
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.
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