Tower Research Capital LLC TRC Sells 29,078 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Tower Research Capital LLC TRC cut its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 92.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,426 shares of the real estate investment trust’s stock after selling 29,078 shares during the period. Tower Research Capital LLC TRC’s holdings in Sunstone Hotel Investors were worth $29,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SHO. Smartleaf Asset Management LLC boosted its holdings in shares of Sunstone Hotel Investors by 442.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 2,448 shares in the last quarter. Sterling Capital Management LLC lifted its position in Sunstone Hotel Investors by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 5,701 shares during the period. KBC Group NV boosted its stake in shares of Sunstone Hotel Investors by 55.4% in the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 3,249 shares during the last quarter. FIL Ltd increased its holdings in shares of Sunstone Hotel Investors by 140.2% during the 4th quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 6,634 shares in the last quarter. Finally, Longboard Asset Management LP acquired a new position in shares of Sunstone Hotel Investors in the fourth quarter worth about $141,000. 99.37% of the stock is owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Price Performance

SHO opened at $8.81 on Friday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 4.52 and a beta of 1.25. 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, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41. The stock has a fifty day moving average price of $8.82 and a 200 day moving average price of $10.40.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The business had revenue of $234.07 million during the quarter, compared to analysts’ expectations of $243.34 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. Analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Monday, June 30th. Sunstone Hotel Investors’s dividend payout ratio is presently 360.00%.

Wall Street Analysts Forecast Growth

SHO has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Morgan Stanley reduced their price target on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI reduced their price target on shares of Sunstone Hotel Investors from $12.00 to $10.00 and set an “in-line” rating on the stock in a research note on Monday, April 28th. Bank of America upgraded Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, April 30th. Finally, Truist Financial reduced their price objective on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.25.

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.