State of New Jersey Common Pension Fund D Trims Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 28.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,417 shares of the real estate investment trust’s stock after selling 71,421 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.09% of Sunstone Hotel Investors worth $1,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Sunstone Hotel Investors Stock Down 0.1 %

SHO opened at $10.75 on Friday. The business’s fifty day simple moving average is $10.17 and its 200 day simple moving average is $10.38. Sunstone Hotel Investors, Inc. has a 52 week low of $8.89 and a 52 week high of $11.59. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.19 billion, a PE ratio of 11.94, a P/E/G ratio of 4.27 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The firm 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 quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, research analysts expect that Sunstone Hotel Investors, Inc. will post 0.89 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.35%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target for the company in a research report on Friday, September 13th. Robert W. Baird upgraded Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $11.00 to $12.00 in a research report on Tuesday, May 28th. Baird R W raised Sunstone Hotel Investors to a “strong-buy” rating in a research note on Tuesday, May 28th. Finally, StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.