Resona Asset Management Co. Ltd. Sells 6,604 Shares of Sunstone Hotel Investors, Inc. $SHO

Resona Asset Management Co. Ltd. lessened its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,781 shares of the real estate investment trust’s stock after selling 6,604 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Sunstone Hotel Investors were worth $719,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its stake in shares of Sunstone Hotel Investors by 951.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,008 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 2,722 shares in the last quarter. Assetmark Inc. lifted its stake in Sunstone Hotel Investors by 210.4% in the 2nd quarter. Assetmark Inc. now owns 3,635 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 2,464 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Sunstone Hotel Investors by 62.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 4,882 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,881 shares during the last quarter. GAMMA Investing LLC boosted its position in Sunstone Hotel Investors by 33.0% in the second quarter. GAMMA Investing LLC now owns 6,426 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 1,595 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Sunstone Hotel Investors by 46.8% during the second quarter. Blue Trust Inc. now owns 6,544 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 2,087 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Down 2.8%

Shares of SHO opened at $9.58 on Wednesday. The stock’s 50-day moving average price is $9.35 and its two-hundred day moving average price is $9.04. Sunstone Hotel Investors, Inc. has a 12 month low of $7.45 and a 12 month high of $12.41. The company has a market capitalization of $1.82 billion, a PE ratio of 479.24, a PEG ratio of 5.32 and a beta of 1.28. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.51.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Friday, November 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $229.32 million during the quarter, compared to analysts’ expectations of $226.05 million. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Sunstone Hotel Investors has set its FY 2025 guidance at 0.800-0.870 EPS. On average, analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.36 annualized dividend and a yield of 3.8%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sunstone Hotel Investors in a research note on Wednesday, October 8th. Truist Financial lowered their target price on Sunstone Hotel Investors from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. Evercore ISI lifted their price target on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Wall Street Zen cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Wells Fargo & Company upgraded shares of Sunstone Hotel Investors to a “hold” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.93.

Sunstone Hotel Investors 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.