New York State Common Retirement Fund Raises Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

New York State Common Retirement Fund raised its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 366,335 shares of the real estate investment trust’s stock after acquiring an additional 6,289 shares during the period. New York State Common Retirement Fund owned approximately 0.18% of Sunstone Hotel Investors worth $3,931,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SHO. Fox Run Management L.L.C. purchased a new position in Sunstone Hotel Investors during the third quarter valued at approximately $101,000. Versor Investments LP purchased a new position in Sunstone Hotel Investors during the third quarter valued at approximately $112,000. Evergreen Capital Management LLC purchased a new position in Sunstone Hotel Investors during the third quarter valued at approximately $127,000. Envestnet Portfolio Solutions Inc. purchased a new position in Sunstone Hotel Investors during the third quarter valued at approximately $152,000. Finally, ProVise Management Group LLC purchased a new position in Sunstone Hotel Investors during the third quarter valued at approximately $162,000. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. StockNews.com raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Truist Financial raised their price objective on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.00.

Sunstone Hotel Investors Stock Performance

Shares of NYSE:SHO opened at $10.19 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03. The business’s 50 day moving average price is $10.84 and its 200-day moving average price is $10.51. The firm has a market capitalization of $2.08 billion, a PE ratio of 10.96, a P/E/G ratio of 3.98 and a beta of 1.22. Sunstone Hotel Investors, Inc. has a 1 year low of $8.61 and a 1 year high of $11.59.

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

Sunstone Hotel Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 2.75%. Sunstone Hotel Investors’s payout ratio is 27.96%.

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 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.