Vanguard Group Inc. Sells 213,249 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Vanguard Group Inc. trimmed its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 0.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 32,985,106 shares of the real estate investment trust’s stock after selling 213,249 shares during the period. Vanguard Group Inc. owned about 16.06% of Sunstone Hotel Investors worth $308,411,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its holdings in Sunstone Hotel Investors by 0.5% in the first quarter. Great West Life Assurance Co. Can now owns 190,263 shares of the real estate investment trust’s stock valued at $2,329,000 after acquiring an additional 1,015 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Sunstone Hotel Investors by 4.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 26,216 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 1,167 shares during the last quarter. LPL Financial LLC grew its position in shares of Sunstone Hotel Investors by 7.8% during the 3rd quarter. LPL Financial LLC now owns 16,899 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 1,220 shares during the period. Lazard Asset Management LLC raised its stake in shares of Sunstone Hotel Investors by 5.7% during the third quarter. Lazard Asset Management LLC now owns 23,394 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 1,256 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Sunstone Hotel Investors by 2.1% in the second quarter. Russell Investments Group Ltd. now owns 61,776 shares of the real estate investment trust’s stock valued at $625,000 after buying an additional 1,257 shares during the period. 99.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SHO has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of Sunstone Hotel Investors from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $9.00 to $10.00 in a report on Thursday, December 14th. Truist Financial increased their target price on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. Wells Fargo & Company boosted their price objective on shares of Sunstone Hotel Investors from $9.50 to $10.00 and gave the company an “underweight” rating in a report on Friday, December 22nd. Finally, StockNews.com upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.00.

Sunstone Hotel Investors Stock Up 2.0 %

Sunstone Hotel Investors stock opened at $11.14 on Thursday. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors, Inc. has a 1-year low of $8.61 and a 1-year high of $11.59. The company has a fifty day simple moving average of $10.95 and a 200 day simple moving average of $10.26. The company has a market cap of $2.27 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 4.26 and a beta of 1.21.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.44. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The business had revenue of $219.20 million for the quarter, compared to analyst estimates of $192.56 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Sunstone Hotel Investors’s revenue was down 10.2% on a year-over-year basis. Research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current fiscal year.

Sunstone Hotel Investors Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio is currently 33.33%.

About Sunstone Hotel Investors

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.