Daiwa Securities Group Inc. Sells 3,565 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Daiwa Securities Group Inc. trimmed its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 5.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 63,338 shares of the real estate investment trust’s stock after selling 3,565 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Sunstone Hotel Investors were worth $663,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SHO. EntryPoint Capital LLC purchased a new stake in Sunstone Hotel Investors during the first quarter valued at $30,000. Plato Investment Management Ltd purchased a new stake in shares of Sunstone Hotel Investors during the 1st quarter valued at about $49,000. 1620 Investment Advisors Inc. bought a new position in shares of Sunstone Hotel Investors in the 2nd quarter worth approximately $52,000. Quadrant Capital Group LLC boosted its holdings in shares of Sunstone Hotel Investors by 35.4% in the fourth quarter. Quadrant Capital Group LLC now owns 5,305 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,387 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Sunstone Hotel Investors by 342.9% during the second quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust’s stock valued at $83,000 after buying an additional 5,734 shares during the period. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Trading Up 0.1 %

Sunstone Hotel Investors stock opened at $10.16 on Tuesday. Sunstone Hotel Investors, Inc. has a 1 year low of $8.89 and a 1 year high of $11.59. The firm’s 50 day moving average price is $10.16 and its 200-day moving average price is $10.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.75 and a quick ratio of 3.75. The stock has a market cap of $2.07 billion, a P/E ratio of 11.30, a PEG ratio of 4.22 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.16). The company had revenue of $247.50 million for the quarter, compared to analysts’ expectations of $248.12 million. Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.89 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Monday, September 30th. Sunstone Hotel Investors’s payout ratio is presently 33.33%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHO. StockNews.com downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wolfe Research upgraded Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Wednesday, July 10th. Baird R W raised shares of Sunstone Hotel Investors to a “strong-buy” rating in a report on Tuesday, May 28th. Wells Fargo & Company raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target on the stock in a report on Friday. Finally, Truist Financial decreased their price objective on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.07.

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.