Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 2.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 212,475 shares of the real estate investment trust’s stock after selling 4,708 shares during the period. State of Alaska Department of Revenue’s holdings in Sunstone Hotel Investors were worth $2,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Millennium Management LLC raised its stake in shares of Sunstone Hotel Investors by 368.0% during the second quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock valued at $18,489,000 after purchasing an additional 1,389,917 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Sunstone Hotel Investors by 318.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,367,061 shares of the real estate investment trust’s stock worth $14,299,000 after buying an additional 1,039,986 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Sunstone Hotel Investors in the 2nd quarter worth $2,165,000. Russell Investments Group Ltd. boosted its position in Sunstone Hotel Investors by 572.0% in the 1st quarter. Russell Investments Group Ltd. now owns 219,000 shares of the real estate investment trust’s stock valued at $2,440,000 after buying an additional 186,413 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Sunstone Hotel Investors during the second quarter valued at about $1,664,000. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Trading Up 0.4 %

NYSE:SHO opened at $10.13 on Friday. The company has a market cap of $2.06 billion, a PE ratio of 12.35, a P/E/G ratio of 6.01 and a beta of 1.24. The business’s 50 day moving average is $10.28 and its two-hundred day moving average is $10.24. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors, Inc. has a 52 week low of $9.28 and a 52 week high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The business had revenue of $247.50 million during the quarter, compared to analyst estimates of $248.12 million. During the same period in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, analysts predict that Sunstone Hotel Investors, Inc. will post 0.85 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.36 annualized dividend and a yield of 3.55%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 39.02%.

Analysts Set New Price Targets

SHO has been the topic of several recent analyst reports. Wolfe Research upgraded Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company upgraded Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price for the company in a research note on Friday, September 13th. Finally, StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given 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, Sunstone Hotel Investors presently has a consensus rating of “Hold” and an average target price of $11.42.

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.