Y Intercept Hong Kong Ltd Purchases Shares of 56,642 Sunstone Hotel Investors, Inc. (NYSE:SHO)

Key Points

• Y Intercept Hong Kong Ltd acquired a new investment of approximately $533,000 in Sunstone Hotel Investors, purchasing 56,642 shares.
• Sunstone Hotel Investors experienced mixed ratings from analysts, with Evercore ISI increasing its target price to $11.00, while Morgan Stanley decreased it to $7.00.
• The company announced a quarterly dividend of $0.09 per share, yielding 4.01%, although its payout ratio is notably high at 360.00%.

Y Intercept Hong Kong Ltd acquired a new position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 56,642 shares of the real estate investment trust's stock, valued at approximately $533,000.

Several other institutional investors have also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV purchased a new stake in Sunstone Hotel Investors during the 4th quarter valued at approximately $190,000. GAMMA Investing LLC raised its holdings in shares of Sunstone Hotel Investors by 47.7% in the first quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 1,560 shares in the last quarter. Xponance Inc. grew its stake in Sunstone Hotel Investors by 10.9% in the fourth quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust's stock valued at $174,000 after purchasing an additional 1,441 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Sunstone Hotel Investors in the fourth quarter valued at about $475,000. Finally, Waterfront Capital Partners LLC purchased a new position in Sunstone Hotel Investors in the fourth quarter valued at about $2,219,000. Institutional investors own 99.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group decreased their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Morgan Stanley reduced their target price 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. 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. Evercore ISI upped their target price on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Monday. Finally, Wells Fargo & Company dropped their target price on Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating for the company in a report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Sunstone Hotel Investors currently has an average rating of "Hold" and a consensus target price of $9.07.

Sunstone Hotel Investors Trading Down 0.3%

Sunstone Hotel Investors stock traded down $0.03 during trading on Thursday, hitting $8.77. The company's stock had a trading volume of 547,598 shares, compared to its average volume of 2,367,013. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 87.65, a P/E/G ratio of 1.98 and a beta of 1.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.89 and a current ratio of 2.89. The stock's fifty day moving average is $8.86 and its 200 day moving average is $9.49. Sunstone Hotel Investors, Inc. has a 1-year low of $7.45 and a 1-year high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $234.07 million during the quarter, compared to analysts' expectations of $243.34 million. Sunstone Hotel Investors had a net margin of 3.85% and a return on equity of 1.93%. Sunstone Hotel Investors's revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, equities research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.09 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.36 annualized dividend and a yield of 4.11%. Sunstone Hotel Investors's dividend payout ratio (DPR) is currently 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.