Geode Capital Management LLC decreased its position in Sunstone Hotel Investors Inc. (NYSE:SHO) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,929,252 shares of the company’s stock after selling 8,767 shares during the period. Geode Capital Management LLC owned approximately 0.89% of Sunstone Hotel Investors worth $27,009,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. BlackRock Japan Co. Ltd increased its stake in shares of Sunstone Hotel Investors by 16.4% in the first quarter. BlackRock Japan Co. Ltd now owns 12,977 shares of the company’s stock worth $182,000 after buying an additional 1,831 shares in the last quarter. Credit Agricole S A increased its stake in shares of Sunstone Hotel Investors by 2.4% in the first quarter. Credit Agricole S A now owns 13,816 shares of the company’s stock worth $193,000 after buying an additional 319 shares in the last quarter. Kempen Capital Management N.V. increased its stake in shares of Sunstone Hotel Investors by 56.6% in the first quarter. Kempen Capital Management N.V. now owns 17,472 shares of the company’s stock worth $245,000 after buying an additional 6,316 shares in the last quarter. Virginia Retirement System acquired a new stake in shares of Sunstone Hotel Investors during the first quarter worth $337,000. Finally, Albert D Mason Inc. increased its stake in shares of Sunstone Hotel Investors by 3.1% in the first quarter. Albert D Mason Inc. now owns 29,212 shares of the company’s stock worth $409,000 after buying an additional 875 shares in the last quarter.
Sunstone Hotel Investors Inc. (NYSE:SHO) traded down 0.46% on Wednesday, hitting $13.11. The stock had a trading volume of 2,762,656 shares. The company has a market cap of $2.84 billion and a P/E ratio of 8.17. The stock’s 50-day moving average is $12.35 and its 200-day moving average is $12.49. Sunstone Hotel Investors Inc. has a 52-week low of $9.53 and a 52-week high of $15.08.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.53%.
SHO has been the topic of a number of research analyst reports. Canaccord Genuity raised Sunstone Hotel Investors from a “hold” rating to a “buy” rating and raised their target price for the company from $14.00 to $15.00 in a report on Friday, July 15th. Bank of America Corp. reaffirmed a “buy” rating and issued a $14.50 target price (up previously from $13.00) on shares of Sunstone Hotel Investors in a report on Friday, May 20th. FBR & Co reaffirmed a “buy” rating on shares of Sunstone Hotel Investors in a report on Monday, May 2nd. Zacks Investment Research raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Wednesday, April 6th. Finally, BB&T Corp. initiated coverage on Sunstone Hotel Investors in a report on Wednesday, May 18th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.59.
In other news, SVP David Ryan Sloan sold 35,209 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $12.44, for a total transaction of $437,999.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith Locker sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 29th. The shares were sold at an average price of $11.80, for a total transaction of $118,000.00. Following the transaction, the director now owns 50,703 shares of the company’s stock, valued at $598,295.40. The disclosure for this sale can be found here.
Sunstone Hotel Investors, Inc is a self-managed and self-administered real estate investment trust (REIT). The Company’s business is to acquire, own, asset manage and renovate full-service hotel and select focus-service hotel properties in the United States. The Company operates through hotel ownership segment.
