Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC trimmed its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 308,262 shares of the real estate investment trust’s stock after selling 3,775 shares during the period. NFJ Investment Group LLC owned 0.15% of Sunstone Hotel Investors worth $3,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its holdings in shares of Sunstone Hotel Investors by 442.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 2,448 shares during the period. GAMMA Investing LLC raised its stake in Sunstone Hotel Investors by 114.1% during the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 1,743 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Sunstone Hotel Investors by 805.2% in the 4th quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 5,701 shares during the last quarter. KBC Group NV boosted its holdings in shares of Sunstone Hotel Investors by 55.4% in the 4th quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 3,249 shares during the last quarter. Finally, FIL Ltd grew its stake in shares of Sunstone Hotel Investors by 140.2% during the 4th quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 6,634 shares during the period. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Analyst Upgrades and Downgrades

SHO has been the topic of a number of research analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Jefferies Financial Group decreased their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Truist Financial cut their price target on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.00.

Sunstone Hotel Investors Price Performance

Shares of SHO stock opened at $8.17 on Thursday. The firm has a fifty day simple moving average of $9.81 and a 200-day simple moving average of $10.66. The company has a market capitalization of $1.64 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16. Sunstone Hotel Investors, Inc. has a twelve month low of $7.45 and a twelve month high of $12.41. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 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 $214.77 million during the quarter, compared to analysts’ expectations of $211.17 million. Equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.09 per share. The ex-dividend date was Monday, March 31st. This represents a $0.36 annualized dividend and a yield of 4.41%. Sunstone Hotel Investors’s dividend payout ratio is presently 257.14%.

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.