Raymond James Financial Inc. Makes New $1.24 Million Investment in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Raymond James Financial Inc. acquired a new stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 104,635 shares of the real estate investment trust's stock, valued at approximately $1,239,000. Raymond James Financial Inc. owned approximately 0.05% of Sunstone Hotel Investors at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Heritage Family Offices LLP increased its position in shares of Sunstone Hotel Investors by 7.2% during the 4th quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock valued at $171,000 after purchasing an additional 969 shares during the last quarter. Vanderbilt University boosted its position in Sunstone Hotel Investors by 9.4% during the fourth 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. raised its position in shares of Sunstone Hotel Investors by 10.9% in the 4th 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 in the last quarter. GAMMA Investing LLC lifted its position in Sunstone Hotel Investors by 114.1% in the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 1,743 shares during the period. Finally, Swiss National Bank boosted its holdings in Sunstone Hotel Investors by 0.6% in the fourth quarter. Swiss National Bank now owns 379,949 shares of the real estate investment trust's stock worth $4,499,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors own 99.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SHO shares. Morgan Stanley reduced their price target on 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 upgraded Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price target for the company in a research note on Wednesday, April 30th. Truist Financial cut their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Wells Fargo & Company lowered their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, Evercore ISI dropped their target price on Sunstone Hotel Investors from $12.00 to $10.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.25.

Sunstone Hotel Investors Price Performance

SHO traded up $0.11 during trading hours on Friday, hitting $8.48. The company's stock had a trading volume of 640,546 shares, compared to its average volume of 2,341,602. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 4.52 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 12 month low of $7.45 and a 12 month high of $12.41. The business's 50-day moving average price is $8.97 and its 200-day moving average price is $10.44. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

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 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company had revenue of $234.07 million during the quarter, compared to analyst estimates of $243.34 million. During the same period in the previous year, the business earned $0.18 EPS. Sunstone Hotel Investors's quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Monday, June 30th. Sunstone Hotel Investors's dividend payout ratio (DPR) is 257.14%.

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.