Russell Investments Group Ltd. increased its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 22.0% during the second quarter, according to its most recent disclosure 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 1.14% of Sunstone Hotel Investors worth $40,566,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in SHO. Envestnet Asset Management Inc. raised its stake 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 worth $121,000 after buying an additional 449 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth about $166,000. Paragon Capital Management Ltd bought a new stake in shares of Sunstone Hotel Investors during the first quarter worth about $167,000. Greenwich Wealth Management LLC bought a new stake in shares of Sunstone Hotel Investors during the first quarter worth about $170,000. Finally, Breton Hill Capital Ltd. acquired a new stake in Sunstone Hotel Investors during the first quarter valued at $175,000.
Sunstone Hotel Investors, Inc. (NYSE SHO) traded down 1.60% during trading on Friday, reaching $15.41. The company had a trading volume of 2,576,479 shares. The company has a market capitalization of $3.47 billion, a P/E ratio of 19.99 and a beta of 1.17. The firm’s 50 day moving average is $16.03 and its 200-day moving average is $15.55. Sunstone Hotel Investors, Inc. has a 12 month low of $12.14 and a 12 month high of $16.86.
Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $318.80 million for the quarter, compared to analysts’ expectations of $316.96 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Sunstone Hotel Investors’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, equities analysts expect that Sunstone Hotel Investors, Inc. will post $0.69 earnings per share for the current year.
The firm also recently disclosed 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 yield of 1.30%. The ex-dividend date is Thursday, September 28th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 25.64%.
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SHO has been the subject of several research analyst reports. Zacks Investment Research downgraded Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Robert W. Baird restated a “neutral” rating and issued a $17.00 price objective (up from $16.00) on shares of Sunstone Hotel Investors in a report on Friday, June 16th. FBR & Co lifted 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. BidaskClub lowered Sunstone Hotel Investors from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Canaccord Genuity restated a “buy” rating and set a $17.00 price target on shares of Sunstone Hotel Investors in a research note on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price 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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