Woodline Partners LP Purchases New Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Woodline Partners LP purchased a new stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,461,867 shares of the real estate investment trust's stock, valued at approximately $17,309,000. Woodline Partners LP owned approximately 0.73% of Sunstone Hotel Investors at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV grew its position in shares of Sunstone Hotel Investors by 3.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 33,889 shares of the real estate investment trust's stock valued at $406,000 after purchasing an additional 1,258 shares in the last quarter. Vanderbilt University lifted its holdings in shares of Sunstone Hotel Investors by 9.4% during the 4th quarter. Vanderbilt University now owns 14,808 shares of the real estate investment trust's stock worth $175,000 after acquiring an additional 1,276 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Sunstone Hotel Investors by 10.9% during the 4th quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust's stock worth $174,000 after acquiring an additional 1,441 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Sunstone Hotel Investors by 0.6% during the 4th quarter. Swiss National Bank now owns 379,949 shares of the real estate investment trust's stock worth $4,499,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of Sunstone Hotel Investors by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 23,323 shares of the real estate investment trust's stock worth $276,000 after acquiring an additional 2,381 shares during the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Bank of America raised shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price objective for the company in a report on Wednesday, April 30th. Truist Financial lowered their price target on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Evercore ISI raised shares of Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price target for the company in a research note on Friday, May 16th. Finally, Wells Fargo & Company lowered their price target on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.25.

Sunstone Hotel Investors Trading Up 3.0%

Shares of NYSE:SHO traded up $0.26 during midday trading on Tuesday, hitting $8.93. 463,866 shares of the stock traded hands, compared to its average volume of 2,407,907. The stock has a market capitalization of $1.78 billion, a PE ratio of 11.76, a P/E/G ratio of 4.52 and a beta of 1.25. The business's 50 day moving average is $8.67 and its two-hundred day moving average is $10.32. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. 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 issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $234.07 million during the quarter, compared to the consensus estimate of $243.34 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The company'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 earnings per share. As a group, research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Monday, June 30th. Sunstone Hotel Investors's dividend payout ratio (DPR) is 360.00%.

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.