Amundi Boosts Holdings in Sunstone Hotel Investors, Inc. $SHO

Key Points

• Amundi increased its stake in Sunstone Hotel Investors by 27.0%, owning over 1 million shares valued at approximately $8.98 million.
• Sunstone Hotel Investors reported quarterly earnings of $0.28 EPS, exceeding estimates, with a revenue of $259.77 million for the quarter.
• The company declared a quarterly dividend of $0.09 per share, with an annualized yield of 3.8%.

Amundi grew its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 27.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,040,883 shares of the real estate investment trust's stock after purchasing an additional 221,367 shares during the quarter. Amundi owned about 0.52% of Sunstone Hotel Investors worth $8,983,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SHO. Massachusetts Financial Services Co. MA bought a new position in Sunstone Hotel Investors in the 1st quarter worth $42,838,000. Woodline Partners LP bought a new position in Sunstone Hotel Investors in the 4th quarter worth $17,309,000. Bank of America Corp DE raised its holdings in Sunstone Hotel Investors by 23.0% in the 4th 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 purchasing an additional 1,229,769 shares in the last quarter. Nuveen LLC bought a new position in Sunstone Hotel Investors in the 1st quarter worth $10,858,000. Finally, Westwood Holdings Group Inc. raised its holdings in Sunstone Hotel Investors by 45.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 3,576,897 shares of the real estate investment trust's stock worth $33,659,000 after purchasing an additional 1,125,543 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors.

Sunstone Hotel Investors Price Performance

Shares of SHO stock traded up $0.03 on Monday, reaching $9.81. The company's stock had a trading volume of 396,642 shares, compared to its average volume of 2,352,011. The stock's fifty day simple moving average is $9.11 and its 200-day simple moving average is $9.00. Sunstone Hotel Investors, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 490.50, a price-to-earnings-growth ratio of 3.58 and a beta of 1.29.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.02. Sunstone Hotel Investors had a net margin of 2.15% and a return on equity of 1.12%. The firm had revenue of $259.77 million during the quarter, compared to analyst estimates of $256.68 million. During the same period last year, the firm posted $0.28 earnings per share. Sunstone Hotel Investors's revenue for the quarter was up 5.0% compared to the same quarter last year. Analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.7%. Sunstone Hotel Investors's dividend payout ratio (DPR) is 1,800.00%.

Analysts Set New Price Targets

Several research analysts have commented on SHO shares. Wells Fargo & Company decreased their price objective on shares of Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating for the company in a report on Tuesday, July 1st. Evercore ISI increased their price target on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. assumed coverage on shares of Sunstone Hotel Investors in a research note on Monday, June 23rd. They issued an "underweight" rating and a $8.00 price target for the company. Truist Financial decreased their price target on shares of Sunstone Hotel Investors from $11.00 to $10.00 and set a "hold" rating for the company in a research note on Wednesday, September 3rd. Finally, Wall Street Zen lowered shares of Sunstone Hotel Investors from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $8.93.

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.