Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Posted by Defense World Staff on Jun 9th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO – Get Rating) by 16.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,175 shares of the real estate investment trust’s stock after acquiring an additional 31,729 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.11% of Sunstone Hotel Investors worth $2,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SHO. US Bancorp DE increased its position in Sunstone Hotel Investors by 33.0% during the 1st quarter. US Bancorp DE now owns 14,499 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 3,595 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Sunstone Hotel Investors by 515.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,387 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 8,700 shares in the last quarter. Citigroup Inc. increased its position in Sunstone Hotel Investors by 15.1% during the 1st quarter. Citigroup Inc. now owns 376,700 shares of the real estate investment trust’s stock worth $4,437,000 after purchasing an additional 49,400 shares in the last quarter. MetLife Investment Management LLC increased its position in Sunstone Hotel Investors by 64.1% during the 1st quarter. MetLife Investment Management LLC now owns 112,095 shares of the real estate investment trust’s stock worth $1,320,000 after purchasing an additional 43,806 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Sunstone Hotel Investors by 0.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 190,263 shares of the real estate investment trust’s stock worth $2,329,000 after purchasing an additional 1,015 shares in the last quarter. Institutional investors and hedge funds own 99.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SHO shares. Compass Point downgraded shares of Sunstone Hotel Investors from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $12.00 to $9.00 in a research report on Wednesday, March 22nd. Wells Fargo & Company lowered their price objective on shares of Sunstone Hotel Investors from $11.50 to $9.50 and set an “equal weight” rating for the company in a research report on Thursday, March 30th. Finally, StockNews.com began coverage on shares of Sunstone Hotel Investors in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.56.

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock opened at $10.75 on Friday. The stock has a market cap of $2.23 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $9.95 and a 200-day moving average of $10.09. Sunstone Hotel Investors, Inc. has a 52 week low of $8.60 and a 52 week high of $12.50.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, June 29th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 39.47%.

Sunstone Hotel Investors Profile

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Sunstone Hotel Investors, Inc is a real estate investment trust, which engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. Its portfolio consists of upper upscale hotels located in major convention, resort destination, and urban markets. The company was founded by Robert A.