Fisher Asset Management LLC Has $17.67 Million Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Fisher Asset Management LLC lowered its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 23.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,646,784 shares of the real estate investment trust's stock after selling 517,583 shares during the period. Fisher Asset Management LLC owned about 0.80% of Sunstone Hotel Investors worth $17,670,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fox Run Management L.L.C. acquired a new position in shares of Sunstone Hotel Investors in the third quarter valued at approximately $101,000. Versor Investments LP acquired a new position in shares of Sunstone Hotel Investors in the third quarter valued at approximately $112,000. Evergreen Capital Management LLC acquired a new position in shares of Sunstone Hotel Investors in the third quarter valued at approximately $127,000. Heritage Wealth Management LLC acquired a new position in shares of Sunstone Hotel Investors in the fourth quarter valued at approximately $163,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Sunstone Hotel Investors in the third quarter valued at approximately $152,000. Institutional investors and hedge funds own 99.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SHO. StockNews.com raised shares of Sunstone Hotel Investors from a "sell" rating to a "hold" rating in a research report 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 report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat.com, Sunstone Hotel Investors has a consensus rating of "Hold" and an average target price of $10.00.

Sunstone Hotel Investors Stock Performance

Shares of Sunstone Hotel Investors stock traded up $0.17 during trading on Monday, hitting $10.36. 2,204,292 shares of the stock were exchanged, compared to its average volume of 1,907,770. The stock's fifty day moving average is $10.83 and its 200 day moving average is $10.52. The stock has a market cap of $2.11 billion, a PE ratio of 11.14, a P/E/G ratio of 3.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.03 and a current ratio of 7.03. Sunstone Hotel Investors, Inc. has a 12 month low of $8.61 and a 12 month high of $11.59.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 EPS 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 analyst estimates of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. The company's quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. As a group, sell-side analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.85 EPS for the current year.

Sunstone Hotel Investors Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 2.70%. Sunstone Hotel Investors's dividend payout ratio is presently 27.96%.

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.