Amundi Increases Stock Position 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 lifted its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 27.0% during the 1st quarter, according to its most recent disclosure with the SEC. 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 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sunstone Hotel Investors during the 4th quarter worth approximately $33,000. GF Fund Management CO. LTD. purchased a new stake in Sunstone Hotel Investors during the 4th quarter worth approximately $42,000. GAMMA Investing LLC increased its stake in Sunstone Hotel Investors by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock worth $45,000 after buying an additional 1,560 shares during the period. Smartleaf Asset Management LLC increased its stake in Sunstone Hotel Investors by 62.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 4,882 shares of the real estate investment trust's stock worth $46,000 after buying an additional 1,881 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Sunstone Hotel Investors during the 1st quarter worth approximately $82,000. Institutional investors and hedge funds own 99.37% of the company's stock.

Wall Street Analyst Weigh In

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

Sunstone Hotel Investors Stock Down 1.4%

Sunstone Hotel Investors stock traded down $0.14 during mid-day trading on Monday, hitting $9.64. The company had a trading volume of 3,275,489 shares, compared to its average volume of 2,101,351. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 482.24, a PEG ratio of 3.58 and a beta of 1.29. Sunstone Hotel Investors, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $9.12 and a 200 day moving average of $8.99.

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

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 30th. Sunstone Hotel Investors's dividend payout ratio is currently 1,800.00%.

Sunstone Hotel Investors Company 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.