Alliancebernstein L.P. Reduces Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Alliancebernstein L.P. trimmed its position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 13.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 273,583 shares of the real estate investment trust's stock after selling 44,119 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of Sunstone Hotel Investors worth $3,239,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its stake in Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 2,448 shares during 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 valued at $39,000 after acquiring an additional 1,743 shares during the last quarter. KBC Group NV boosted its stake in Sunstone Hotel Investors by 55.4% in the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust's stock valued at $108,000 after acquiring an additional 3,249 shares in the last quarter. Longboard Asset Management LP purchased a new position in shares of Sunstone Hotel Investors during the fourth quarter worth about $141,000. Finally, Heritage Family Offices LLP increased its position in shares of Sunstone Hotel Investors by 7.2% during the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock worth $171,000 after purchasing an additional 969 shares in the last quarter. 99.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on SHO shares. Wells Fargo & Company dropped their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Truist Financial reduced their price target on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Jefferies Financial Group dropped their price objective on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Morgan Stanley reiterated an "underweight" rating and set a $10.00 target price on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $11.00.

Sunstone Hotel Investors Stock Performance

SHO traded up $0.06 during trading on Friday, reaching $8.22. The company's stock had a trading volume of 2,737,347 shares, compared to its average volume of 2,306,083. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. The company's fifty day moving average price is $9.69 and its 200-day moving average price is $10.64. Sunstone Hotel Investors, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $214.77 million for the quarter, compared to the consensus estimate of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. On average, equities analysts forecast 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 was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.09 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.38%. Sunstone Hotel Investors's dividend payout ratio is presently 257.14%.

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.