Assetmark Inc. Sells 11,061 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Assetmark Inc. lowered its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 15.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,021 shares of the real estate investment trust’s stock after selling 11,061 shares during the period. Assetmark Inc.’s holdings in Sunstone Hotel Investors were worth $609,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SHO. BNP Paribas Financial Markets grew its holdings in shares of Sunstone Hotel Investors by 20.1% in the 1st quarter. BNP Paribas Financial Markets now owns 109,137 shares of the real estate investment trust’s stock valued at $1,216,000 after buying an additional 18,240 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Sunstone Hotel Investors by 6.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,805 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 1,215 shares during the period. Sei Investments Co. raised its holdings in Sunstone Hotel Investors by 21.6% in the 1st quarter. Sei Investments Co. now owns 156,229 shares of the real estate investment trust’s stock valued at $1,740,000 after acquiring an additional 27,743 shares during the period. Russell Investments Group Ltd. grew its position in shares of Sunstone Hotel Investors by 572.0% during the 1st quarter. Russell Investments Group Ltd. now owns 219,000 shares of the real estate investment trust’s stock worth $2,440,000 after purchasing an additional 186,413 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Sunstone Hotel Investors by 6.1% during the 1st quarter. ProShare Advisors LLC now owns 41,451 shares of the real estate investment trust’s stock worth $462,000 after acquiring an additional 2,388 shares in the last quarter. Institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Price Performance

SHO stock opened at $10.11 on Friday. The firm has a market cap of $2.05 billion, a P/E ratio of 13.30, a P/E/G ratio of 6.56 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 52 week low of $9.39 and a 52 week high of $11.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.75 and a current ratio of 2.98. The firm’s fifty day moving average is $10.34 and its 200 day moving average is $10.25.

Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $226.40 million during the quarter, compared to analysts’ expectations of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. Research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 3.56%. Sunstone Hotel Investors’s dividend payout ratio is presently 42.11%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SHO. StockNews.com downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised shares of 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 report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.42.

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.