Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Acquired by Wolverine Asset Management LLC

Key Points

• Wolverine Asset Management LLC significantly increased its stake in Sunstone Hotel Investors by an impressive 1,098.6% in Q1, acquiring 238,701 additional shares to bring its total to 260,429 shares.
• Analysts have mixed reviews on Sunstone Hotel Investors, with Bank of America upgrading its rating to "buy" and setting a price target of $10, while Morgan Stanley lowered its target from $9.00 to $7.00.
• Sunstone Hotel Investors reported $0.28 earnings per share for the last quarter, exceeding estimates, and announced a quarterly dividend of $0.09 per share with a payout ratio of 1,800%.

Wolverine Asset Management LLC raised its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 1,098.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 260,429 shares of the real estate investment trust's stock after buying an additional 238,701 shares during the quarter. Wolverine Asset Management LLC owned about 0.13% of Sunstone Hotel Investors worth $2,451,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SHO. Nissay Asset Management Corp Japan ADV increased its holdings in Sunstone Hotel Investors by 3.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 33,889 shares of the real estate investment trust's stock worth $406,000 after buying an additional 1,258 shares during the period. GAMMA Investing LLC grew its stake in shares of Sunstone Hotel Investors by 47.7% during the 1st quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 1,560 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sunstone Hotel Investors during the 4th quarter worth approximately $33,000. Natixis Advisors LLC grew its stake in shares of Sunstone Hotel Investors by 3.7% during the 1st quarter. Natixis Advisors LLC now owns 87,260 shares of the real estate investment trust's stock worth $821,000 after purchasing an additional 3,144 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Sunstone Hotel Investors during the 4th quarter worth approximately $42,000. 99.37% of the stock is owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Trading Down 0.8%

SHO traded down $0.07 on Monday, hitting $8.64. The company had a trading volume of 2,552,954 shares, compared to its average volume of 1,893,417. The firm has a market cap of $1.64 billion, a P/E ratio of 432.42, a PEG ratio of 1.99 and a beta of 1.30. Sunstone Hotel Investors, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41. The company's fifty day moving average price is $8.84 and its 200 day moving average price is $9.30. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.51.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. The firm had revenue of $259.77 million for the quarter, compared to analyst estimates of $256.68 million. Sunstone Hotel Investors had a net margin of 2.15% and a return on equity of 1.12%. Sunstone Hotel Investors's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. As a group, equities analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.36 dividend on an annualized basis and a yield of 4.2%. Sunstone Hotel Investors's dividend payout ratio is 1,800.00%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SHO. Bank of America raised shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price objective on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. began 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. Morgan Stanley reduced their price target on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Evercore ISI lifted their price target on Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Sunstone Hotel Investors has a consensus rating of "Hold" and an average target price of $9.07.

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.