Sunstone Hotel Investors, Inc. $SHO Shares Sold by Vident Advisory LLC

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 lowered its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 74.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SHO. Jump Financial LLC bought a new position in Sunstone Hotel Investors during the 1st quarter valued at $240,000. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Sunstone Hotel Investors by 16.8% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 5,474,886 shares of the real estate investment trust's stock valued at $51,519,000 after purchasing an additional 788,397 shares in the last quarter. Smartleaf Asset Management LLC lifted its position 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 worth $46,000 after purchasing an additional 1,881 shares during the last quarter. APG Asset Management US Inc. grew its stake in Sunstone Hotel Investors by 31.0% in the first quarter. APG Asset Management US Inc. now owns 867,197 shares of the real estate investment trust's stock worth $8,230,000 after purchasing an additional 205,186 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in Sunstone Hotel Investors in the first quarter worth about $153,000. 99.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company reduced their target price 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 reduced their price objective on Sunstone Hotel Investors from $11.00 to $10.00 and set a "hold" rating on the stock in a research note on Wednesday, September 3rd. Wall Street Zen lowered shares of Sunstone Hotel Investors from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Evercore ISI increased their target price 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. initiated coverage on shares of Sunstone Hotel Investors in a report on Monday, June 23rd. They issued an "underweight" rating and a $8.00 price target for the company. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $8.93.

Sunstone Hotel Investors Stock Performance

Shares of NYSE SHO traded down $0.07 during midday trading on Wednesday, hitting $9.32. 1,424,095 shares of the company's stock were exchanged, compared to its average volume of 2,116,245. Sunstone Hotel Investors, Inc. has a twelve month low of $7.45 and a twelve month high of $12.41. The firm has a market cap of $1.77 billion, a P/E ratio of 465.98, a PEG ratio of 3.44 and a beta of 1.29. The stock's 50 day moving average price is $9.08 and its 200-day moving average price is $9.03. 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 quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The company had revenue of $259.77 million during the quarter, compared to analyst estimates of $256.68 million. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm's quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Tuesday, September 30th. Sunstone Hotel Investors's dividend payout ratio is currently 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.