By otakuyassine3@gmail.com 
KLP Kapitalforvaltning AS purchased a new position in Sunstone Hotel Investors, Inc. (NYSE:SHO – Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 39,900 shares of the real estate investment trust’s stock, valued at approximately $475,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of SHO. JPMorgan Chase & Co. raised its holdings in shares of Sunstone Hotel Investors by 31.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock worth $49,284,000 after purchasing an additional 1,130,558 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Sunstone Hotel Investors by 11.6% in 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 buying an additional 116,058 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Sunstone Hotel Investors by 114.1% during the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,743 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sunstone Hotel Investors by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 5,247,927 shares of the real estate investment trust’s stock worth $54,169,000 after acquiring an additional 109,327 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of Sunstone Hotel Investors in the 3rd quarter worth $519,000. 99.37% of the stock is owned by institutional investors and hedge funds.
Sunstone Hotel Investors Trading Down 8.7 %
Sunstone Hotel Investors stock opened at $8.63 on Friday. Sunstone Hotel Investors, Inc. has a 12 month low of $8.58 and a 12 month high of $12.41. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.74 billion, a P/E ratio of 11.35, a P/E/G ratio of 4.52 and a beta of 1.19. The company’s fifty day simple moving average is $10.50 and its 200-day simple moving average is $10.85.
Sunstone Hotel Investors (NYSE:SHO – Get Free Report) last issued its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The firm had revenue of $214.77 million for the quarter, compared to the consensus estimate of $211.17 million. As a group, sell-side analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.
Sunstone Hotel Investors Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors’s payout ratio is presently 257.14%.
Analysts Set New Price Targets
SHO has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Truist Financial dropped their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Morgan Stanley restated an “underweight” rating and issued a $10.00 price target on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group lifted their price objective on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.57.
Check Out Our Latest Report on SHO
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.
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