Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in Sunstone Hotel Investors, Inc. (NYSE:SHO – Free Report) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 222,777 shares of the real estate investment trust’s stock after selling 2,398 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.11% of Sunstone Hotel Investors worth $2,201,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Sunstone Hotel Investors by 168.4% in the fourth quarter. Advisors Asset Management Inc. now owns 3,065 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 1,923 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in Sunstone Hotel Investors in the fourth quarter valued at approximately $37,000. Point72 Hong Kong Ltd bought a new stake in Sunstone Hotel Investors in the first quarter valued at approximately $91,000. Point72 Middle East FZE bought a new stake in Sunstone Hotel Investors in the fourth quarter valued at approximately $94,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Sunstone Hotel Investors by 515.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,387 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 8,700 shares in the last quarter.
Analysts Set New Price Targets
SHO has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Sunstone Hotel Investors from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, August 7th. Wells Fargo & Company increased their price objective on shares of Sunstone Hotel Investors from $9.50 to $11.00 in a research report on Wednesday, July 12th. Compass Point lowered their price objective on shares of Sunstone Hotel Investors from $10.00 to $9.00 in a research report on Tuesday, August 8th. Morgan Stanley raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $9.00 to $10.00 in a research report on Tuesday, June 27th. Finally, StockNews.com downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $10.25.
Sunstone Hotel Investors Stock Performance
Shares of SHO stock opened at $8.78 on Friday. The stock has a market cap of $1.82 billion, a P/E ratio of 20.89, a P/E/G ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.54 and a quick ratio of 1.54. The company has a fifty day moving average price of $9.88 and a two-hundred day moving average price of $10.01. Sunstone Hotel Investors, Inc. has a one year low of $8.60 and a one year high of $12.30.
Sunstone Hotel Investors Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.07 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.28 dividend on an annualized basis and a yield of 3.19%. This is a boost from Sunstone Hotel Investors’s previous quarterly dividend of $0.05. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 47.62%.
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 15 hotels comprised of 7,735 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 hotels considered to be Long-Term Relevant Real Estate.
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