Sunstone Hotel Investors, Inc. $SHO Shares Sold by Rhumbline Advisers

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 reduced its stake in 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 & Exchange Commission. The firm owned 620,215 shares of the real estate investment trust's stock after selling 27,797 shares during the period. Rhumbline Advisers owned 0.31% of Sunstone Hotel Investors worth $5,836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHO. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sunstone Hotel Investors in the fourth quarter valued at approximately $33,000. GF Fund Management CO. LTD. bought a new stake in shares of Sunstone Hotel Investors during the fourth quarter valued at approximately $42,000. GAMMA Investing LLC raised its holdings in shares of 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 valued at $45,000 after buying an additional 1,560 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Sunstone Hotel Investors by 62.7% during the first quarter. Smartleaf Asset Management LLC now owns 4,882 shares of the real estate investment trust's stock valued at $46,000 after buying 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 during the first quarter valued at approximately $82,000. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Sunstone Hotel Investors in a report on Monday, June 23rd. They set an "underweight" rating and a $8.00 price target on the stock. Evercore ISI lifted their price target on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Wells Fargo & Company cut 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. Truist Financial dropped their target price on Sunstone Hotel Investors from $11.00 to $10.00 and set a "hold" rating on the stock in a report on Wednesday, September 3rd. Finally, Wall Street Zen cut Sunstone Hotel Investors from a "hold" rating to a "sell" rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Sunstone Hotel Investors presently has a consensus rating of "Hold" and a consensus price target of $8.93.

Sunstone Hotel Investors Price Performance

Shares of NYSE:SHO opened at $9.77 on Friday. Sunstone Hotel Investors, Inc. has a 12 month low of $7.45 and a 12 month high of $12.41. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 488.74, a PEG ratio of 3.45 and a beta of 1.29. The stock's 50 day moving average price is $9.11 and its 200 day moving average price is $9.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.73 and a quick ratio of 2.73.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its earnings results 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 firm had revenue of $259.77 million for the quarter, compared to analysts' expectations of $256.68 million. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 earnings per share. Equities research analysts anticipate 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 issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.36 annualized dividend and a dividend yield of 3.7%. Sunstone Hotel Investors's dividend payout ratio is currently 1,800.00%.

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.

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