CANADA LIFE ASSURANCE Co Sells 58,534 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

CANADA LIFE ASSURANCE Co trimmed its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,630 shares of the real estate investment trust's stock after selling 58,534 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.21% of Sunstone Hotel Investors worth $5,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC increased its position 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 worth $36,000 after buying an additional 2,448 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Sunstone Hotel Investors by 114.1% during the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 1,743 shares during the last quarter. Sterling Capital Management LLC boosted its position in Sunstone Hotel Investors by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock worth $76,000 after purchasing an additional 5,701 shares during the period. KBC Group NV increased its stake in shares of 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 worth $108,000 after purchasing an additional 3,249 shares in the last quarter. Finally, FIL Ltd raised its position in shares of Sunstone Hotel Investors by 140.2% in the fourth quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust's stock valued at $135,000 after purchasing an additional 6,634 shares during the period. Hedge funds and other institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Price Performance

SHO traded down $0.04 during trading on Tuesday, reaching $8.27. The stock had a trading volume of 131,825 shares, compared to its average volume of 2,334,794. 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 business has a 50-day moving average of $9.32 and a 200-day moving average of $10.55. Sunstone Hotel Investors, Inc. has a one year low of $7.45 and a one year high of $12.41. The stock has a market cap of $1.66 billion, a PE ratio of 10.89, a PEG ratio of 4.52 and a beta of 1.16.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company had revenue of $214.77 million during the quarter, compared to the consensus estimate of $211.17 million. As a group, equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Monday, March 31st. Sunstone Hotel Investors's payout ratio is presently 257.14%.

Wall Street Analysts Forecast Growth

SHO has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Truist Financial decreased their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group cut their price objective on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Evercore ISI decreased their target price on shares of Sunstone Hotel Investors from $12.00 to $10.00 and set an "in-line" rating on the stock in a report on Monday. Finally, Morgan Stanley cut their price target on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.50.

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.