Foresters Investment Management Company Inc. Lowers Stake in Sunstone Hotel Investors Inc (SHO)

Foresters Investment Management Company Inc. cut its holdings in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 411,400 shares of the real estate investment trust’s stock after selling 28,800 shares during the period. Foresters Investment Management Company Inc. owned 0.18% of Sunstone Hotel Investors worth $5,352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. PGGM Investments grew its position in shares of Sunstone Hotel Investors by 124.8% during the fourth quarter. PGGM Investments now owns 11,977,005 shares of the real estate investment trust’s stock worth $155,821,000 after acquiring an additional 6,650,000 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Sunstone Hotel Investors by 0.7% during the third quarter. Teachers Advisors LLC now owns 2,383,592 shares of the real estate investment trust’s stock worth $38,996,000 after acquiring an additional 17,224 shares during the last quarter. American International Group Inc. grew its position in shares of Sunstone Hotel Investors by 3.0% during the third quarter. American International Group Inc. now owns 151,453 shares of the real estate investment trust’s stock worth $2,478,000 after acquiring an additional 4,446 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Sunstone Hotel Investors during the third quarter worth approximately $358,000. Finally, Virginia Retirement Systems ET AL grew its position in shares of Sunstone Hotel Investors by 37.7% during the fourth quarter. Virginia Retirement Systems ET AL now owns 135,400 shares of the real estate investment trust’s stock worth $1,762,000 after acquiring an additional 37,100 shares during the last quarter.

NYSE:SHO opened at $14.66 on Friday. Sunstone Hotel Investors Inc has a 1-year low of $12.70 and a 1-year high of $17.60. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.90 and a current ratio of 3.90. The firm has a market capitalization of $3.36 billion, a P/E ratio of 12.53, a PEG ratio of 2.29 and a beta of 1.15.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Tuesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Sunstone Hotel Investors had a net margin of 21.61% and a return on equity of 10.02%. The firm had revenue of $280.85 million for the quarter, compared to analyst estimates of $275.14 million. During the same period last year, the firm posted $0.28 EPS. Sunstone Hotel Investors’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts forecast that Sunstone Hotel Investors Inc will post 1.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a $0.05 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.36%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 184.62%.

SHO has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Thursday, February 21st. Wells Fargo & Co lowered their price objective on shares of Sunstone Hotel Investors from $17.50 to $16.00 and set a “market perform” rating on the stock in a research report on Thursday, November 15th. Deutsche Bank reiterated a “hold” rating and issued a $16.00 price objective on shares of Sunstone Hotel Investors in a research report on Thursday, February 14th. Finally, Barclays lowered shares of Sunstone Hotel Investors from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $18.00 to $16.00 in a research report on Tuesday, December 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.83.

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About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc is a real estate investment trust, which engages in the acquisition, ownership, asset management and renovation of hotels and resorts. It operates under the following brands: Marriott, Hilton, and Hyatt. The company was founded by Robert A. Alter in 1985 and is headquartered in Aliso Viejo, CA.

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Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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