Pitcairn Co. Decreases Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Pitcairn Co. lessened its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 8.9% during the third quarter, HoldingsChannel reports. The firm owned 28,824 shares of the real estate investment trust’s stock after selling 2,830 shares during the period. Pitcairn Co.’s holdings in Sunstone Hotel Investors were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. New York State Teachers Retirement System raised its stake in shares of Sunstone Hotel Investors by 0.5% in the third quarter. New York State Teachers Retirement System now owns 294,316 shares of the real estate investment trust’s stock valued at $3,037,000 after buying an additional 1,386 shares during the period. Van ECK Associates Corp increased its holdings in Sunstone Hotel Investors by 5.5% in the 2nd quarter. Van ECK Associates Corp now owns 31,119 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 1,635 shares during the last quarter. Evergreen Capital Management LLC raised its stake in Sunstone Hotel Investors by 12.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 17,479 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 1,881 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Sunstone Hotel Investors by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 1,937 shares during the last quarter. Finally, Diversified Trust Co boosted its position in Sunstone Hotel Investors by 5.8% during the second quarter. Diversified Trust Co now owns 36,571 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 2,018 shares during the period. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SHO shares. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective for the company in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.42.

Sunstone Hotel Investors Price Performance

Shares of NYSE:SHO opened at $10.75 on Thursday. The company has a 50 day moving average of $10.38 and a 200 day moving average of $10.25. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.16 billion, a P/E ratio of 14.09, a P/E/G ratio of 5.81 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 12 month low of $9.39 and a 12 month high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $224.61 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.09 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a yield of 3.35%. Sunstone Hotel Investors’s dividend payout ratio is currently 42.11%.

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.