Vanguard Group Inc. Sells 445,449 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Vanguard Group Inc. reduced its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,274,537 shares of the real estate investment trust’s stock after selling 445,449 shares during the quarter. Vanguard Group Inc. owned 0.16% of Sunstone Hotel Investors worth $370,291,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SHO. Principal Financial Group Inc. boosted its stake in Sunstone Hotel Investors by 645.6% in the fourth quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust’s stock valued at $98,929,000 after acquiring an additional 7,234,862 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Sunstone Hotel Investors by 460.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,372 shares of the real estate investment trust’s stock valued at $14,596,000 after buying an additional 1,161,792 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Sunstone Hotel Investors by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock valued at $49,284,000 after buying an additional 1,130,558 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its stake in shares of Sunstone Hotel Investors by 22.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust’s stock worth $55,488,000 after acquiring an additional 851,104 shares during the period. Finally, NFJ Investment Group LLC purchased a new stake in Sunstone Hotel Investors in the 3rd quarter worth about $3,220,000. Institutional investors own 99.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SHO has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Morgan Stanley reaffirmed an “underweight” rating and issued a $10.00 price objective on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Truist Financial lowered 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 report on Friday, March 21st. Finally, Wells Fargo & Company cut their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sunstone Hotel Investors presently has a consensus rating of “Hold” and an average price target of $11.57.

Sunstone Hotel Investors Stock Down 0.4 %

SHO stock opened at $9.45 on Thursday. Sunstone Hotel Investors, Inc. has a 1-year low of $9.28 and a 1-year high of $12.41. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 4.52 and a beta of 1.19. 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 company’s 50 day moving average is $10.56 and its 200 day moving average is $10.86.

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 (EPS) for the quarter, topping 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 the consensus estimate of $211.17 million. Sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given 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 3.81%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 257.14%.

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.