State of Wisconsin Investment Board Sells 8,795 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

State of Wisconsin Investment Board trimmed its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,860 shares of the real estate investment trust’s stock after selling 8,795 shares during the quarter. State of Wisconsin Investment Board’s holdings in Sunstone Hotel Investors were worth $917,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in Sunstone Hotel Investors by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,736,611 shares of the real estate investment trust’s stock valued at $21,569,000 after acquiring an additional 49,247 shares during the period. Bank of Montreal Can raised its holdings in Sunstone Hotel Investors by 81.4% in the 2nd quarter. Bank of Montreal Can now owns 11,192 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 5,022 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Sunstone Hotel Investors by 33.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 162,688 shares of the real estate investment trust’s stock valued at $2,021,000 after acquiring an additional 41,223 shares during the period. Ergoteles LLC bought a new position in Sunstone Hotel Investors in the 2nd quarter valued at about $556,000. Finally, Xponance Inc. bought a new position in Sunstone Hotel Investors in the 2nd quarter valued at about $146,000. 97.17% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on SHO. Truist Securities raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a report on Tuesday, August 17th. Truist upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a research report on Tuesday, August 17th. Citigroup decreased their target price on shares of Sunstone Hotel Investors from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 6th. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $13.00 to $11.50 in a research report on Tuesday, August 24th. Finally, Zacks Investment Research upgraded shares of Sunstone Hotel Investors from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, July 27th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.94.

NYSE SHO opened at $12.17 on Thursday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -11.70 and a beta of 1.37. The firm’s 50 day simple moving average is $11.76 and its 200 day simple moving average is $12.21. Sunstone Hotel Investors, Inc. has a 1 year low of $7.12 and a 1 year high of $13.74.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Tuesday, August 3rd. The real estate investment trust reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.11). The company had revenue of $117.21 million during the quarter, compared to the consensus estimate of $94.92 million. Sunstone Hotel Investors had a negative net margin of 89.59% and a negative return on equity of 11.15%. On average, equities research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.04 earnings per share for the current year.

Sunstone Hotel Investors Profile

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 1995 and is headquartered in Irvine, CA.

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

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