Russell Investments Group Ltd. raised its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 22.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,512,269 shares of the real estate investment trust’s stock after buying an additional 452,721 shares during the period. Russell Investments Group Ltd. owned approximately 1.14% of Sunstone Hotel Investors worth $40,566,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in SHO. Envestnet Asset Management Inc. raised its position in shares of Sunstone Hotel Investors by 6.0% in the first quarter. Envestnet Asset Management Inc. now owns 7,919 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 449 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Sunstone Hotel Investors during the fourth quarter valued at about $166,000. Paragon Capital Management Ltd acquired a new position in shares of Sunstone Hotel Investors during the first quarter valued at about $167,000. Greenwich Wealth Management LLC acquired a new position in shares of Sunstone Hotel Investors during the first quarter valued at about $170,000. Finally, Breton Hill Capital Ltd. acquired a new position in shares of Sunstone Hotel Investors during the first quarter valued at about $175,000.
Shares of Sunstone Hotel Investors, Inc. (SHO) remained flat at $15.50 during trading on Friday. The company had a trading volume of 1,931,693 shares. Sunstone Hotel Investors, Inc. has a 12-month low of $12.14 and a 12-month high of $16.86. The company has a 50 day moving average of $16.18 and a 200 day moving average of $15.52. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 20.10 and a beta of 1.17.
Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Sunstone Hotel Investors had a return on equity of 7.70% and a net margin of 15.41%. The company had revenue of $318.80 million for the quarter, compared to analysts’ expectations of $316.96 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts predict that Sunstone Hotel Investors, Inc. will post $0.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, September 28th. Sunstone Hotel Investors’s dividend payout ratio is currently 25.64%.
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SHO has been the topic of a number of research reports. Canaccord Genuity increased their price objective on Sunstone Hotel Investors from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. BidaskClub lowered Sunstone Hotel Investors from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research lowered Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Boenning Scattergood reissued a “neutral” rating on shares of Sunstone Hotel Investors in a report on Tuesday, April 18th. Finally, FBR & Co increased their price objective on Sunstone Hotel Investors from $15.00 to $16.00 and gave the company a “mkt perform” rating in a report on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $15.64.
Sunstone Hotel Investors Company Profile
Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust. The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. It operates through hotel ownership segment. It owns primarily urban and resort upper upscale hotels in the United States.
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