Sunstone Hotel Investors, Inc. (NYSE:SHO) Position Cut by Vident Advisory LLC

Vident Advisory LLC trimmed its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 19.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,196 shares of the real estate investment trust’s stock after selling 75,096 shares during the quarter. Vident Advisory LLC owned about 0.15% of Sunstone Hotel Investors worth $3,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Balyasny Asset Management L.P. lifted its position in shares of Sunstone Hotel Investors by 313.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock valued at $41,565,000 after acquiring an additional 2,937,603 shares during the last quarter. Norges Bank acquired a new stake in shares of Sunstone Hotel Investors during the 4th quarter valued at $14,656,000. The Manufacturers Life Insurance Company lifted its position in shares of Sunstone Hotel Investors by 7.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,281,393 shares of the real estate investment trust’s stock valued at $35,209,000 after acquiring an additional 236,708 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Sunstone Hotel Investors by 572.0% during the 1st quarter. Russell Investments Group Ltd. now owns 219,000 shares of the real estate investment trust’s stock valued at $2,440,000 after acquiring an additional 186,413 shares during the last quarter. Finally, Paralel Advisors LLC acquired a new stake in shares of Sunstone Hotel Investors during the 4th quarter valued at $1,999,000. 99.37% of the stock is owned by institutional investors.

Sunstone Hotel Investors Price Performance

Shares of Sunstone Hotel Investors stock traded up $0.21 during midday trading on Friday, reaching $10.40. The company had a trading volume of 239,694 shares, compared to its average volume of 1,805,239. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 4.85 and a beta of 1.24. The stock has a fifty day simple moving average of $10.26 and a 200 day simple moving average of $10.60. Sunstone Hotel Investors, Inc. has a 1-year low of $8.61 and a 1-year high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). The company had revenue of $217.17 million during the quarter, compared to analyst estimates of $212.00 million. Sunstone Hotel Investors had a net margin of 20.69% and a return on equity of 10.75%. As a group, equities research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.9 earnings per share for the current year.

Sunstone Hotel Investors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.09 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and raised their price target for the company from $11.00 to $12.00 in a research report on Tuesday, May 28th. Compass Point upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and increased their target price for the company from $10.00 to $12.00 in a research note on Tuesday, May 7th. StockNews.com upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Wednesday. Truist Financial reduced their target price on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Finally, Baird R W upgraded shares of Sunstone Hotel Investors to a “strong-buy” rating in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sunstone Hotel Investors has an average rating of “Hold” and a consensus price target of $10.75.

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.