Cibc World Markets Corp Invests $225,000 in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Cibc World Markets Corp bought a new position in Sunstone Hotel Investors, Inc. (NYSE:SHO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,036 shares of the real estate investment trust’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in Sunstone Hotel Investors by 442.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 2,448 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Sunstone Hotel Investors by 114.1% in the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 1,743 shares in the last quarter. KBC Group NV raised its holdings in shares of Sunstone Hotel Investors by 55.4% during the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 3,249 shares during the period. Longboard Asset Management LP acquired a new stake in shares of Sunstone Hotel Investors during the fourth quarter valued at approximately $141,000. Finally, Heritage Family Offices LLP lifted its position in shares of Sunstone Hotel Investors by 7.2% in the 4th quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 969 shares in the last quarter. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Price Performance

Shares of SHO opened at $9.74 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $1.96 billion, a PE ratio of 12.81, a PEG ratio of 4.52 and a beta of 1.19. The firm’s 50 day moving average price is $10.78 and its 200 day moving average price is $10.88. Sunstone Hotel Investors, Inc. has a twelve month low of $9.39 and a twelve month high of $12.41.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results 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. The business had revenue of $214.77 million for the quarter, compared to the consensus estimate of $211.17 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. As a group, research analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, March 31st. This represents a $0.36 annualized dividend and a dividend yield of 3.70%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 257.14%.

Analyst Ratings Changes

Several research firms have weighed in on SHO. 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. Truist Financial lowered their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company reduced their price objective on 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. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $10.00 target price on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.57.

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.