State of New Jersey Common Pension Fund D Decreases Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,838 shares of the real estate investment trust’s stock after selling 21,227 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.12% of Sunstone Hotel Investors worth $2,734,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SHO. Fox Run Management L.L.C. purchased a new stake in Sunstone Hotel Investors during the third quarter worth approximately $101,000. Versor Investments LP purchased a new stake in Sunstone Hotel Investors in the third quarter valued at approximately $112,000. Evergreen Capital Management LLC purchased a new stake in Sunstone Hotel Investors in the third quarter valued at approximately $127,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Sunstone Hotel Investors in the third quarter valued at approximately $152,000. Finally, ProVise Management Group LLC purchased a new stake in Sunstone Hotel Investors in the third quarter valued at approximately $162,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial boosted their price objective on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. StockNews.com upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, Sunstone Hotel Investors currently has an average rating of “Hold” and a consensus price target of $10.00.

Sunstone Hotel Investors Trading Down 0.9 %

NYSE:SHO opened at $10.20 on Wednesday. The firm has a market cap of $2.08 billion, a P/E ratio of 10.97, a PEG ratio of 4.02 and a beta of 1.21. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $10.91 and its 200-day simple moving average is $10.49. Sunstone Hotel Investors, Inc. has a 12-month low of $8.61 and a 12-month high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.44. The business had revenue of $219.20 million for the quarter, compared to analyst estimates of $192.56 million. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Equities analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.85 EPS for the current year.

Sunstone Hotel Investors Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, March 27th. Sunstone Hotel Investors’s payout ratio is currently 27.96%.

About Sunstone Hotel Investors

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.