Stevens Capital Management LP reduced its position in Sunstone Hotel Investors Inc (NYSE:SHO) by 21.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 164,907 shares of the real estate investment trust’s stock after selling 43,896 shares during the quarter. Stevens Capital Management LP owned about 0.07% of Sunstone Hotel Investors worth $2,698,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Sunstone Hotel Investors by 25.7% in the 2nd quarter. Bank of America Corp DE now owns 635,622 shares of the real estate investment trust’s stock valued at $10,564,000 after purchasing an additional 129,932 shares during the last quarter. Rothschild Asset Management Inc. raised its stake in Sunstone Hotel Investors by 34.4% in the 2nd quarter. Rothschild Asset Management Inc. now owns 965,942 shares of the real estate investment trust’s stock valued at $16,054,000 after purchasing an additional 247,186 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Sunstone Hotel Investors by 3.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 225,868 shares of the real estate investment trust’s stock valued at $3,754,000 after purchasing an additional 6,926 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Sunstone Hotel Investors by 17.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,607,790 shares of the real estate investment trust’s stock valued at $43,291,000 after purchasing an additional 389,019 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in Sunstone Hotel Investors by 697.2% in the 2nd quarter. Citadel Advisors LLC now owns 221,291 shares of the real estate investment trust’s stock valued at $3,678,000 after purchasing an additional 193,534 shares during the last quarter.
Several research analysts recently commented on the company. Wells Fargo & Co reduced their price objective on Sunstone Hotel Investors from $17.50 to $16.00 and set a “market perform” rating for the company in a research note on Thursday, November 15th. Zacks Investment Research raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Friday, November 9th. Finally, Deutsche Bank set a $16.00 price objective on Sunstone Hotel Investors and gave the company a “hold” rating in a research note on Tuesday, November 6th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Sunstone Hotel Investors has an average rating of “Hold” and a consensus target price of $17.00.
Sunstone Hotel Investors (NYSE:SHO) last issued its earnings results on Monday, November 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.10. Sunstone Hotel Investors had a return on equity of 7.84% and a net margin of 16.56%. The business had revenue of $289.30 million during the quarter, compared to the consensus estimate of $291.19 million. During the same period last year, the company earned $0.31 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, sell-side analysts forecast that Sunstone Hotel Investors Inc will post 1.15 EPS for the current fiscal year.
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Sunstone Hotel Investors Company Profile
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of July 30, 2018 has interests in 24 hotels comprised of 12,046 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be Long-Term Relevant Real Estate, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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