Kayne Anderson Rudnick Investment Management LLC Has $2.24 Million Holdings in Sunstone Hotel Investors, Inc. (SHO)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,663 shares of the real estate investment trust’s stock after selling 1,474 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.06% of Sunstone Hotel Investors worth $2,235,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in 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 acquiring an additional 449 shares during the period. Utah Retirement Systems lifted its holdings in shares of Sunstone Hotel Investors by 17.1% in the first quarter. Utah Retirement Systems now owns 12,986 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 1,900 shares during the period. Breton Hill Capital Ltd. lifted its holdings in shares of Sunstone Hotel Investors by 14.9% in the second quarter. Breton Hill Capital Ltd. now owns 13,100 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 1,700 shares during the period. US Bancorp DE lifted its holdings in shares of Sunstone Hotel Investors by 20.9% in the first quarter. US Bancorp DE now owns 14,142 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 2,448 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sunstone Hotel Investors by 4.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,285 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 575 shares during the period.

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Sunstone Hotel Investors, Inc. (NYSE:SHO) opened at 15.84 on Friday. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 20.54 and a beta of 1.17. Sunstone Hotel Investors, Inc. has a 52-week low of $12.14 and a 52-week high of $16.86. The company’s 50-day moving average price is $15.72 and its 200 day moving average price is $15.65.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.26%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 25.64%.

Several brokerages have recently weighed in on SHO. BidaskClub lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research upgraded Sunstone Hotel Investors from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Friday, June 23rd. Finally, Robert W. Baird restated a “hold” rating and issued a $17.00 price objective on shares of Sunstone Hotel Investors in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.80.

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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