Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC cut its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,280,003 shares of the real estate investment trust's stock after selling 46,304 shares during the quarter. Tributary Capital Management LLC owned 0.64% of Sunstone Hotel Investors worth $12,045,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $33,000. GF Fund Management CO. LTD. purchased a new stake in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $42,000. GAMMA Investing LLC increased its position 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. Sterling Capital Management LLC increased its position in shares of Sunstone Hotel Investors by 805.2% in the 4th quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock valued at $76,000 after purchasing an additional 5,701 shares during the last quarter. Finally, FIL Ltd increased its position in shares of Sunstone Hotel Investors by 140.2% in the 4th quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust's stock valued at $135,000 after purchasing an additional 6,634 shares during the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SHO shares. JPMorgan Chase & Co. started coverage on shares of Sunstone Hotel Investors in a research report on Monday, June 23rd. They issued an "underweight" rating and a $8.00 target price on the stock. Jefferies Financial Group dropped their target price on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Truist Financial dropped their target price on shares of 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. Bank of America raised shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 target price on the stock in a research report on Wednesday, April 30th. Finally, Evercore ISI upgraded shares of Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price target for the company in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $8.93.

Sunstone Hotel Investors Stock Performance

NYSE:SHO traded up $0.08 during trading hours on Friday, reaching $8.88. 1,956,744 shares of the company's stock were exchanged, compared to its average volume of 2,501,331. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 88.80, a P/E/G ratio of 2.21 and a beta of 1.25. The company has a 50-day moving average of $8.85 and a 200 day moving average of $9.67. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.47. Sunstone Hotel Investors, Inc. has a 1-year low of $7.45 and a 1-year high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. Sunstone Hotel Investors had a net margin of 3.85% and a return on equity of 1.93%. The company had revenue of $234.07 million during the quarter, compared to analysts' expectations of $243.34 million. During the same quarter last year, the business earned $0.18 EPS. The business's revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Monday, June 30th. Sunstone Hotel Investors's dividend payout ratio (DPR) is presently 360.00%.

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.