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

Tributary Capital Management LLC trimmed its position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Sunstone Hotel Investors by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 8,793,005 shares of the real estate investment trust's stock worth $82,742,000 after purchasing an additional 437,433 shares during the last quarter. Bank of America Corp DE raised its stake in Sunstone Hotel Investors by 23.0% in the fourth quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust's stock valued at $77,760,000 after buying an additional 1,229,769 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Sunstone Hotel Investors in the first quarter valued at about $42,838,000. Northern Trust Corp raised its stake in Sunstone Hotel Investors by 20.5% in the fourth quarter. Northern Trust Corp now owns 3,159,408 shares of the real estate investment trust's stock valued at $37,407,000 after buying an additional 538,089 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Sunstone Hotel Investors by 8.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,853,280 shares of the real estate investment trust's stock valued at $33,783,000 after buying an additional 228,812 shares during the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Stock Up 0.9%

SHO traded up $0.08 on Friday, hitting $8.88. 1,956,744 shares of the company were exchanged, compared to its average volume of 2,508,102. Sunstone Hotel Investors, Inc. has a twelve month low of $7.45 and a twelve month high of $12.41. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 88.80, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $8.86 and a two-hundred day moving average price of $9.62.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The business had revenue of $234.07 million during the quarter, compared to analysts' expectations of $243.34 million. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Monday, June 30th. Sunstone Hotel Investors's dividend payout ratio is presently 360.00%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Evercore ISI raised Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price objective on the stock in a report on Friday, May 16th. JPMorgan Chase & Co. started coverage on 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. Bank of America upgraded 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. Wells Fargo & Company decreased their target price on Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating on the stock in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group decreased their target price on 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. Three 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $8.93.

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.