Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 7.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,223 shares of the real estate investment trust’s stock after acquiring an additional 3,098 shares during the period. Truist Financial Corp’s holdings in Sunstone Hotel Investors were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new stake in Sunstone Hotel Investors in the 1st quarter valued at about $30,000. Federated Hermes Inc. purchased a new position in Sunstone Hotel Investors in the 2nd quarter valued at about $34,000. Quarry LP lifted its holdings in Sunstone Hotel Investors by 584.1% in the 2nd quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 3,680 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Sunstone Hotel Investors in the 1st quarter valued at about $49,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Sunstone Hotel Investors in the 2nd quarter valued at about $52,000. 99.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a report on Friday, September 13th. Finally, Wolfe Research upgraded shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.42.

Sunstone Hotel Investors Trading Up 0.8 %

Shares of SHO stock opened at $10.40 on Thursday. The firm has a market cap of $2.12 billion, a P/E ratio of 11.56, a PEG ratio of 4.30 and a beta of 1.24. Sunstone Hotel Investors, Inc. has a 1-year low of $9.03 and a 1-year high of $11.59. 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 firm’s 50-day simple moving average is $10.22 and its 200-day simple moving average is $10.29.

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 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 return on equity of 9.75% and a net margin of 19.51%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. As a group, equities analysts forecast that Sunstone Hotel Investors, Inc. will post 0.89 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 35.56%.

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.