Rhumbline Advisers Trims Stake in Sunstone Hotel Investors Inc (SHO)

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Rhumbline Advisers cut its position in Sunstone Hotel Investors Inc (NYSE:SHO) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 287,938 shares of the real estate investment trust’s stock after selling 7,071 shares during the quarter. Rhumbline Advisers’ holdings in Sunstone Hotel Investors were worth $4,711,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Sunstone Hotel Investors in the 2nd quarter valued at about $118,000. Qube Research & Technologies Ltd acquired a new stake in shares of Sunstone Hotel Investors in the 2nd quarter valued at about $128,000. First Hawaiian Bank acquired a new stake in shares of Sunstone Hotel Investors in the 3rd quarter valued at about $166,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sunstone Hotel Investors in the 2nd quarter valued at about $180,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Sunstone Hotel Investors in the 2nd quarter valued at about $254,000.

Several analysts have recently commented on the company. Zacks Investment Research downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Tuesday, October 16th. Deutsche Bank set a $16.00 target price on Sunstone Hotel Investors and gave the company a “hold” rating in a research note on Tuesday, November 6th. Finally, Wells Fargo & Co dropped their price target on shares of Sunstone Hotel Investors from $17.50 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, November 15th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $17.00.

NYSE:SHO opened at $14.71 on Friday. The company has a current ratio of 6.36, a quick ratio of 6.35 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $3.42 billion, a P/E ratio of 13.03, a P/E/G ratio of 2.94 and a beta of 1.12. Sunstone Hotel Investors Inc has a 12 month low of $13.67 and a 12 month high of $17.60.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.10. Sunstone Hotel Investors had a net margin of 16.56% and a return on equity of 7.84%. The business had revenue of $289.30 million during the quarter, compared to analyst estimates of $291.19 million. During the same period in the previous year, the business earned $0.31 EPS. Sunstone Hotel Investors’s revenue was down 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Sunstone Hotel Investors Inc will post 1.15 EPS for the current year.

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Sunstone Hotel Investors Company Profile

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of November 5, 2018 has interests in 22 hotels comprised of 11,176 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be Long-Term Relevant Real Estate, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.

Read More: Hedge Funds – How They Work For Investors

Want to see what other hedge funds are holding SHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunstone Hotel Investors Inc (NYSE:SHO).

Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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