Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Purchased 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 increased its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 1,098.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,429 shares of the real estate investment trust's stock after purchasing an additional 238,701 shares during the quarter. Wolverine Asset Management LLC owned 0.13% of Sunstone Hotel Investors worth $2,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Sunstone Hotel Investors by 4.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 139,491 shares of the real estate investment trust's stock valued at $1,313,000 after purchasing an additional 6,232 shares in the last quarter. Centersquare Investment Management LLC increased its position in Sunstone Hotel Investors by 9.2% during the first quarter. Centersquare Investment Management LLC now owns 1,443,154 shares of the real estate investment trust's stock valued at $13,580,000 after acquiring an additional 121,112 shares during the last quarter. Westwood Holdings Group Inc. increased its position 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 valued at $33,659,000 after acquiring an additional 1,125,543 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Sunstone Hotel Investors during the first quarter valued at $143,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Sunstone Hotel Investors during the first quarter valued at $1,504,000. 99.37% of the stock is owned by institutional investors.

Sunstone Hotel Investors Stock Performance

SHO traded up $0.17 on Wednesday, reaching $9.17. 669,818 shares of the stock were exchanged, compared to its average volume of 2,368,622. The company's 50-day moving average price is $8.85 and its 200 day moving average price is $9.29. The firm has a market capitalization of $1.74 billion, a PE ratio of 457.98, a PEG ratio of 1.97 and a beta of 1.30. Sunstone Hotel Investors, Inc. has a fifty-two week low of $7.45 and a fifty-two week high of $12.41. 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 for the quarter, beating the consensus estimate 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 firm 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 business earned $0.28 EPS. Sunstone Hotel Investors's revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The business 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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 30th. Sunstone Hotel Investors's payout ratio is currently 1,800.00%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SHO. Wells Fargo & Company reduced their price objective on Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating for the company in a research report on Tuesday, July 1st. JPMorgan Chase & Co. assumed coverage on Sunstone Hotel Investors in a research report on Monday, June 23rd. They issued an "underweight" rating and a $8.00 price target for the company. Evercore ISI upped their price objective on Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Morgan Stanley dropped their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Bank of America raised Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price objective for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $9.07.

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.