Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 0.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 32,985,106 shares of the real estate investment trust's stock after selling 213,249 shares during the period. Vanguard Group Inc. owned approximately 16.06% of Sunstone Hotel Investors worth $308,411,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SHO. US Bancorp DE boosted its position in Sunstone Hotel Investors by 33.0% in the first quarter. US Bancorp DE now owns 14,499 shares of the real estate investment trust's stock valued at $171,000 after buying an additional 3,595 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Sunstone Hotel Investors by 515.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,387 shares of the real estate investment trust's stock valued at $122,000 after buying an additional 8,700 shares during the last quarter. Citigroup Inc. boosted its position in Sunstone Hotel Investors by 15.1% in the first quarter. Citigroup Inc. now owns 376,700 shares of the real estate investment trust's stock valued at $4,437,000 after buying an additional 49,400 shares during the last quarter. MetLife Investment Management LLC boosted its position in Sunstone Hotel Investors by 64.1% in the first quarter. MetLife Investment Management LLC now owns 112,095 shares of the real estate investment trust's stock valued at $1,320,000 after buying an additional 43,806 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in Sunstone Hotel Investors by 0.5% in the first quarter. Great West Life Assurance Co. Can now owns 190,263 shares of the real estate investment trust's stock valued at $2,329,000 after buying an additional 1,015 shares during the last quarter. Hedge funds and other institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Stock Performance

NYSE:SHO traded up $0.01 during trading hours on Thursday, reaching $11.14. The company had a trading volume of 2,327,812 shares, compared to its average volume of 1,987,684. Sunstone Hotel Investors, Inc. has a 1-year low of $8.61 and a 1-year high of $11.59. The firm has a market cap of $2.27 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 4.29 and a beta of 1.21. The business's 50 day moving average price is $10.96 and its 200-day moving average price is $10.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.44. The business had revenue of $219.20 million during the quarter, compared to the consensus estimate of $192.56 million. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The business's quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 EPS. Research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.85 EPS for the current year.

Sunstone Hotel Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, March 27th. Sunstone Hotel Investors's payout ratio is 25.81%.

Analyst Ratings Changes

A number of brokerages recently commented on SHO. StockNews.com upgraded Sunstone Hotel Investors from a "sell" rating to a "hold" rating in a research report on Thursday, March 21st. Wells Fargo & Company boosted their price target on Sunstone Hotel Investors from $9.50 to $10.00 and gave the company an "underweight" rating in a report on Friday, December 22nd. JPMorgan Chase & Co. raised Sunstone Hotel Investors from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $9.00 to $10.00 in a report on Thursday, December 14th. Finally, Truist Financial boosted their price target on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a "hold" rating in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.00.

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.