Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,247,927 shares of the real estate investment trust’s stock after purchasing an additional 109,327 shares during the period. Geode Capital Management LLC’s holdings in Sunstone Hotel Investors were worth $54,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Sunstone Hotel Investors by 304.9% during the third quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust’s stock worth $3,540,000 after acquiring an additional 258,302 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Sunstone Hotel Investors by 8.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 610,149 shares of the real estate investment trust’s stock valued at $6,297,000 after purchasing an additional 46,402 shares during the period. Jane Street Group LLC grew its position in Sunstone Hotel Investors by 90.4% in the 3rd quarter. Jane Street Group LLC now owns 359,767 shares of the real estate investment trust’s stock worth $3,713,000 after purchasing an additional 170,821 shares during the last quarter. NFJ Investment Group LLC acquired a new stake in shares of Sunstone Hotel Investors in the third quarter valued at approximately $3,220,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Sunstone Hotel Investors by 4.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 989,052 shares of the real estate investment trust’s stock valued at $10,207,000 after buying an additional 44,242 shares during the last quarter. 99.37% of the stock is currently owned by institutional investors.

Sunstone Hotel Investors Stock Down 0.6 %

SHO stock opened at $12.01 on Monday. The firm’s 50-day moving average is $10.88 and its two-hundred day moving average is $10.45. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 6.45 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 52 week low of $9.39 and a 52 week high of $12.41. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

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

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors’s payout ratio is currently 44.74%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company increased their price objective on Sunstone Hotel Investors from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sunstone Hotel Investors currently has a consensus rating of “Hold” and a consensus target price of $12.20.

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.