Vident Advisory LLC Has $879,000 Stock Position in Sunstone Hotel Investors, Inc. $SHO

Key Points

• Vident Advisory LLC significantly reduced its stake in Sunstone Hotel Investors by 74.1%, leaving it with a total of 93,433 shares worth approximately $879,000 at the end of the first quarter.
• Institutional investors hold 99.37% of the stock, with several firms increasing their stakes, including Principal Financial Group Inc. and Bank of America Corp DE.
• Analysts have varying price targets for Sunstone Hotel Investors, with a consensus price target of $8.93 indicating a general outlook of "Hold" for the stock.

Vident Advisory LLC reduced its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 74.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 93,433 shares of the real estate investment trust's stock after selling 267,671 shares during the quarter. Vident Advisory LLC's holdings in Sunstone Hotel Investors were worth $879,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in 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 buying an additional 437,433 shares during the period. Bank of America Corp DE raised its stake in Sunstone Hotel Investors by 23.0% during the 4th quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust's stock worth $77,760,000 after buying an additional 1,229,769 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its stake in Sunstone Hotel Investors by 16.8% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 5,474,886 shares of the real estate investment trust's stock worth $51,519,000 after buying an additional 788,397 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Sunstone Hotel Investors during the first quarter worth $42,838,000. Finally, Westwood Holdings Group Inc. raised its holdings in Sunstone Hotel Investors by 45.9% during the first quarter. Westwood Holdings Group Inc. now owns 3,576,897 shares of the real estate investment trust's stock worth $33,659,000 after buying an additional 1,125,543 shares during the last quarter. 99.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on SHO. Wells Fargo & Company lowered their price objective on shares of 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 lowered their price objective on shares of Sunstone Hotel Investors from $11.00 to $10.00 and set a "hold" rating on the stock in a report on Wednesday. Evercore ISI upped their price objective on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Sunstone Hotel Investors in a report on Monday, June 23rd. They set an "underweight" rating and a $8.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $8.93.

Sunstone Hotel Investors Stock Performance

Shares of SHO stock opened at $9.59 on Friday. The firm has a 50-day moving average of $9.03 and a 200-day moving average of $9.08. The company has a market cap of $1.82 billion, a P/E ratio of 479.49, a P/E/G ratio of 3.48 and a beta of 1.29. 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, Inc. has a one year low of $7.45 and a one year high of $12.41.

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, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $259.77 million during the quarter, compared to the consensus estimate 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 for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. Equities research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.36 annualized dividend and a dividend yield of 3.8%. 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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