Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Bought by Quarry LP

Quarry LP lifted its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 584.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,310 shares of the real estate investment trust’s stock after acquiring an additional 3,680 shares during the period. Quarry LP’s holdings in Sunstone Hotel Investors were worth $45,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in shares of Sunstone Hotel Investors during the first quarter valued at $30,000. Federated Hermes Inc. bought a new position in Sunstone Hotel Investors in the 2nd quarter valued at about $34,000. Plato Investment Management Ltd acquired a new position in Sunstone Hotel Investors during the 1st quarter valued at about $49,000. 1620 Investment Advisors Inc. bought a new stake in shares of Sunstone Hotel Investors during the 2nd quarter worth about $52,000. Finally, Blue Trust Inc. raised its position in shares of Sunstone Hotel Investors by 342.9% during the 2nd 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. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Price Performance

Shares of NYSE:SHO opened at $10.47 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.75 and a current ratio of 3.75. The company has a market capitalization of $2.13 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 4.33 and a beta of 1.24. The stock has a fifty day moving average of $10.17 and a 200-day moving average of $10.34. Sunstone Hotel Investors, Inc. has a one year low of $9.03 and a one year high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results 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). Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The company had revenue of $247.50 million during the quarter, compared to analysts’ expectations of $248.12 million. During the same period in the prior year, the business posted $0.33 EPS. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.89 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

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 given a $0.09 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.36 annualized dividend and a dividend yield of 3.44%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 35.56%.

Analysts Set New Price Targets

A number of research analysts recently commented on SHO shares. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Wolfe Research raised 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. Finally, Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective on the stock in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sunstone Hotel Investors currently has a consensus rating of “Hold” and a consensus price target of $11.42.

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.