Jacobs Levy Equity Management Inc. Purchases 44,242 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Jacobs Levy Equity Management Inc. lifted its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 4.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 989,052 shares of the real estate investment trust’s stock after acquiring an additional 44,242 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Sunstone Hotel Investors were worth $10,207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Sunstone Hotel Investors by 11.6% during the third quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust’s stock valued at $11,566,000 after purchasing an additional 116,058 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Sunstone Hotel Investors in the 3rd quarter worth approximately $573,000. American Century Companies Inc. increased its position in Sunstone Hotel Investors by 170.5% during the 2nd quarter. American Century Companies Inc. now owns 199,580 shares of the real estate investment trust’s stock valued at $2,088,000 after buying an additional 125,809 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new position in Sunstone Hotel Investors during the second quarter valued at $303,000. Finally, Millennium Management LLC boosted its holdings in Sunstone Hotel Investors by 368.0% in the second quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock worth $18,489,000 after acquiring an additional 1,389,917 shares in the last quarter. 99.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upgraded Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target for the company in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.42.

Sunstone Hotel Investors Stock Up 0.2 %

SHO stock opened at $12.07 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. Sunstone Hotel Investors, Inc. has a 1-year low of $9.39 and a 1-year high of $12.19. The stock has a market capitalization of $2.42 billion, a P/E ratio of 15.88, a P/E/G ratio of 6.28 and a beta of 1.25. The business has a fifty day moving average price of $10.47 and a 200-day moving average price of $10.30.

Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The company had revenue of $226.40 million for the quarter, compared to the consensus estimate of $224.61 million. During the same quarter in the prior year, the company posted $0.23 EPS. Sunstone Hotel Investors’s revenue was down 8.6% on a year-over-year basis. Equities analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 44.74%.

Sunstone Hotel Investors Company 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.