Westwood Holdings Group Inc. Grows Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Westwood Holdings Group Inc. raised its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,818,270 shares of the real estate investment trust’s stock after purchasing an additional 51,203 shares during the quarter. Westwood Holdings Group Inc. owned about 1.39% of Sunstone Hotel Investors worth $29,479,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Sunstone Hotel Investors by 0.4% in the first quarter. Vanguard Group Inc. now owns 32,326,254 shares of the real estate investment trust’s stock valued at $360,114,000 after purchasing an additional 115,899 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of Sunstone Hotel Investors by 313.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock valued at $41,565,000 after acquiring an additional 2,937,603 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Sunstone Hotel Investors by 7.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,281,393 shares of the real estate investment trust’s stock valued at $35,209,000 after acquiring an additional 236,708 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Sunstone Hotel Investors by 318.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,367,061 shares of the real estate investment trust’s stock valued at $14,299,000 after acquiring an additional 1,039,986 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Sunstone Hotel Investors during the fourth quarter valued at about $14,656,000. 99.37% of the stock is owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Stock Down 0.1 %

SHO opened at $10.75 on Friday. Sunstone Hotel Investors, Inc. has a 12 month low of $8.89 and a 12 month high of $11.59. The stock has a market cap of $2.19 billion, a P/E ratio of 11.94, a P/E/G ratio of 4.27 and a beta of 1.25. The stock’s 50 day moving average price is $10.17 and its 200 day moving average price is $10.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.75 and a quick ratio of 3.75.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The company had revenue of $247.50 million for the quarter, compared to analyst estimates of $248.12 million. During the same quarter in the prior year, the business earned $0.33 EPS. Sunstone Hotel Investors’s revenue was down 10.4% compared to the same quarter last year. As a group, research analysts predict that Sunstone Hotel Investors, Inc. will post 0.89 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently disclosed 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. The ex-dividend date 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 is presently 33.33%.

Analyst Upgrades and Downgrades

SHO has been the subject of several recent analyst reports. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note 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 target for the company in a research note on Wednesday, July 10th. Truist Financial decreased their price target on 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 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 note on Friday, September 13th. Finally, Robert W. Baird upgraded Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $11.00 to $12.00 in a research note on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.07.

Sunstone Hotel Investors Profile

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.