California Public Employees Retirement System Increases Holdings in Sunstone Hotel Investors, Inc. (SHO)

California Public Employees Retirement System raised its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,939 shares of the real estate investment trust’s stock after purchasing an additional 9,500 shares during the period. California Public Employees Retirement System owned 0.27% of Sunstone Hotel Investors worth $9,800,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. US Bancorp DE raised its stake in shares of Sunstone Hotel Investors by 20.9% in the 1st quarter. US Bancorp DE now owns 14,142 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 2,448 shares in the last quarter. Legal & General Group Plc grew its holdings in Sunstone Hotel Investors by 22.7% in the 2nd quarter. Legal & General Group Plc now owns 671,442 shares of the real estate investment trust’s stock valued at $10,829,000 after buying an additional 124,144 shares during the last quarter. American International Group Inc. grew its holdings in Sunstone Hotel Investors by 5.5% in the 1st quarter. American International Group Inc. now owns 131,965 shares of the real estate investment trust’s stock valued at $2,023,000 after buying an additional 6,906 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Sunstone Hotel Investors by 6.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,919 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 449 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its holdings in shares of Sunstone Hotel Investors by 420.3% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 148,800 shares of the real estate investment trust’s stock worth $2,399,000 after purchasing an additional 120,200 shares in the last quarter.

Several analysts have recently weighed in on the company. Zacks Investment Research lowered Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub lowered Sunstone Hotel Investors from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Canaccord Genuity lifted their price objective on Sunstone Hotel Investors from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Robert W. Baird restated a “hold” rating and set a $17.00 target price on shares of Sunstone Hotel Investors in a research report on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.13.

Sunstone Hotel Investors, Inc. (NYSE SHO) opened at 16.73 on Wednesday. The firm has a market capitalization of $3.77 billion, a PE ratio of 21.70 and a beta of 1.17. The stock’s 50 day moving average price is $15.93 and its 200 day moving average price is $15.84. Sunstone Hotel Investors, Inc. has a 52-week low of $12.14 and a 52-week high of $16.86.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. Sunstone Hotel Investors had a net margin of 15.41% and a return on equity of 7.70%. The business had revenue of $318.80 million during the quarter, compared to the consensus estimate of $316.96 million. During the same quarter last year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts predict that Sunstone Hotel Investors, Inc. will post $0.69 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Saturday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Thursday, September 28th. Sunstone Hotel Investors’s payout ratio is 25.64%.

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About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust. The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. It operates through hotel ownership segment. It owns primarily urban and resort upper upscale hotels in the United States.

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

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