The Manufacturers Life Insurance Company Increases Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

The Manufacturers Life Insurance Company lifted its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,853,280 shares of the real estate investment trust's stock after acquiring an additional 228,812 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.42% of Sunstone Hotel Investors worth $33,783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Heritage Family Offices LLP grew its stake in 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 worth $171,000 after buying an additional 969 shares during the last quarter. Vanderbilt University raised 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 valued at $175,000 after buying an additional 1,276 shares during the period. Xponance Inc. increased its holdings 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 during the period. GAMMA Investing LLC lifted its holdings in shares of Sunstone Hotel Investors by 114.1% during the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 1,743 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of Sunstone Hotel Investors by 0.6% in the 4th quarter. Swiss National Bank now owns 379,949 shares of the real estate investment trust's stock valued at $4,499,000 after buying an additional 2,300 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors.

Sunstone Hotel Investors Stock Performance

Shares of SHO stock traded up $0.05 during trading hours on Wednesday, hitting $8.35. 418,872 shares of the company were exchanged, compared to its average volume of 2,334,964. Sunstone Hotel Investors, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $9.06 and a 200 day simple moving average of $10.47. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 4.52 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $234.07 million during the quarter, compared to analyst estimates of $243.34 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The company's quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 4.31%. The ex-dividend date was Monday, March 31st. Sunstone Hotel Investors's payout ratio is 257.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SHO. Bank of America upgraded shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price target on the stock in a research note on Wednesday, April 30th. Morgan Stanley decreased their target price on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Truist Financial lowered their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company lowered their price objective 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. Finally, Jefferies Financial Group lowered their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.44.

About Sunstone Hotel Investors

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.