Louisiana State Employees Retirement System Invests $1.10 Million in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Louisiana State Employees Retirement System bought a new position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 102,800 shares of the real estate investment trust's stock, valued at approximately $1,103,000. Louisiana State Employees Retirement System owned approximately 0.05% of Sunstone Hotel Investors at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Fox Run Management L.L.C. bought a new position in Sunstone Hotel Investors during the third quarter valued at approximately $101,000. Versor Investments LP bought a new position in shares of Sunstone Hotel Investors during the 3rd quarter valued at $112,000. Evergreen Capital Management LLC bought a new position in shares of Sunstone Hotel Investors during the 3rd quarter valued at $127,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Sunstone Hotel Investors in the 3rd quarter worth $152,000. Finally, ProVise Management Group LLC bought a new stake in shares of Sunstone Hotel Investors in the third quarter worth $162,000. Hedge funds and other institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock traded up $0.01 during midday trading on Wednesday, hitting $10.53. The stock had a trading volume of 1,435,034 shares, compared to its average volume of 1,904,738. The company has a market capitalization of $2.14 billion, a PE ratio of 11.32, a P/E/G ratio of 4.05 and a beta of 1.21. Sunstone Hotel Investors, Inc. has a 52-week low of $8.61 and a 52-week high of $11.59. The firm's fifty day moving average is $10.96 and its two-hundred day moving average is $10.47. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued 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 company had revenue of $219.20 million during the quarter, compared to the consensus estimate of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. Sunstone Hotel Investors's quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, 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 declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.28 annualized dividend and a yield of 2.66%. Sunstone Hotel Investors's payout ratio is 27.96%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SHO shares. StockNews.com upgraded Sunstone Hotel Investors from a "sell" rating to a "hold" rating in a research note on Thursday, March 21st. Truist Financial boosted their target price on shares of Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a "hold" rating in a research 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $10.00.

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.