Wolverine Asset Management LLC Buys 77,715 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Wolverine Asset Management LLC increased its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 53.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 222,131 shares of the real estate investment trust’s stock after acquiring an additional 77,715 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.11% of Sunstone Hotel Investors worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of SHO. Van ECK Associates Corp grew its holdings in shares of Sunstone Hotel Investors by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 29,201 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 4,802 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of Sunstone Hotel Investors by 39.7% in the fourth quarter. Natixis Advisors L.P. now owns 61,823 shares of the real estate investment trust’s stock valued at $663,000 after acquiring an additional 17,555 shares during the period. Metis Global Partners LLC raised its stake in shares of Sunstone Hotel Investors by 15.7% during the fourth quarter. Metis Global Partners LLC now owns 14,062 shares of the real estate investment trust’s stock valued at $151,000 after acquiring an additional 1,909 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sunstone Hotel Investors by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,906,158 shares of the real estate investment trust’s stock worth $41,913,000 after purchasing an additional 88,949 shares during the period. Finally, Versor Investments LP grew its stake in shares of Sunstone Hotel Investors by 63.3% in the fourth quarter. Versor Investments LP now owns 19,600 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 7,600 shares during the last quarter. 99.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHO. Truist Financial lowered their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Wolfe Research upgraded shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Wednesday, July 10th. Robert W. Baird upgraded shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $11.00 to $12.00 in a report on Tuesday, May 28th. Baird R W raised shares of Sunstone Hotel Investors to a “strong-buy” rating in a research report on Tuesday, May 28th. Finally, Compass Point upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $12.00 in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.00.

Sunstone Hotel Investors Stock Down 2.5 %

NYSE:SHO opened at $10.17 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.75 and a quick ratio of 3.75. The firm’s 50-day moving average price is $10.20 and its 200-day moving average price is $10.46. The company has a market capitalization of $2.07 billion, a PE ratio of 11.30, a P/E/G ratio of 4.36 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 1-year low of $8.78 and a 1-year high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The business had revenue of $247.50 million during the quarter, compared to analysts’ expectations of $248.12 million. During the same quarter last year, the company posted $0.33 EPS. Sunstone Hotel Investors’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.89 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, September 30th. Sunstone Hotel Investors’s payout ratio is 33.33%.

Sunstone Hotel Investors 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.