Rhumbline Advisers Sells 27,797 Shares of Sunstone Hotel Investors, Inc. $SHO

Key Points

• Rhumbline Advisers has reduced its stake in Sunstone Hotel Investors by 4.3%, selling 27,797 shares and now owning 620,215 shares valued at approximately $5.8 million.
• Equities research analysts have mixed opinions on Sunstone; the consensus rating is "Hold" with a target price of $8.93, while JPMorgan set an "underweight" rating at $8.00.
• Sunstone Hotel Investors declared a quarterly dividend of $0.09 per share, representing an annualized dividend yield of 3.7% and a payout ratio of 1,800%.

Rhumbline Advisers cut its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 620,215 shares of the real estate investment trust's stock after selling 27,797 shares during the period. Rhumbline Advisers owned approximately 0.31% of Sunstone Hotel Investors worth $5,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Sunstone Hotel Investors during the fourth quarter valued at approximately $33,000. GF Fund Management CO. LTD. bought a new stake in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $42,000. GAMMA Investing LLC lifted its stake in shares of 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 valued at $45,000 after purchasing an additional 1,560 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Sunstone Hotel Investors by 62.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 4,882 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 1,881 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Sunstone Hotel Investors in the 1st quarter valued at approximately $82,000. 99.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Sunstone Hotel Investors Trading Up 1.7%

Shares of NYSE SHO traded up $0.17 during midday trading on Thursday, hitting $9.91. The company's stock had a trading volume of 955,346 shares, compared to its average volume of 2,368,183. The business's 50 day moving average is $9.15 and its two-hundred day moving average is $9.00. The firm has a market cap of $1.88 billion, a P/E ratio of 495.50, a price-to-earnings-growth ratio of 3.58 and a beta of 1.29. Sunstone Hotel Investors, Inc. has a 12-month low of $7.45 and a 12-month 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.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The company had revenue of $259.77 million for the quarter, compared to the consensus estimate of $256.68 million. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.Sunstone Hotel Investors's quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. As a group, equities research analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 30th. Sunstone Hotel Investors's dividend payout ratio (DPR) is presently 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.