New York State Teachers Retirement System Lowers Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

New York State Teachers Retirement System reduced its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 282,509 shares of the real estate investment trust’s stock after selling 11,807 shares during the quarter. New York State Teachers Retirement System owned 0.14% of Sunstone Hotel Investors worth $3,345,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SHO. Blue Trust Inc. grew its stake in shares of Sunstone Hotel Investors by 194.5% in the 3rd quarter. Blue Trust Inc. now owns 21,812 shares of the real estate investment trust’s stock valued at $228,000 after purchasing an additional 14,406 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Sunstone Hotel Investors by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 1,937 shares during the last quarter. abrdn plc grew its stake in shares of Sunstone Hotel Investors by 10.0% in the 3rd quarter. abrdn plc now owns 44,055 shares of the real estate investment trust’s stock valued at $455,000 after purchasing an additional 4,010 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Sunstone Hotel Investors in the 3rd quarter valued at approximately $59,000. Finally, Van ECK Associates Corp grew its stake in shares of Sunstone Hotel Investors by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 34,956 shares of the real estate investment trust’s stock valued at $353,000 after purchasing an additional 3,837 shares during the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on SHO shares. Jefferies Financial Group raised their price target on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Wells Fargo & Company reduced their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Morgan Stanley reissued an “underweight” rating and issued a $10.00 price target on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.71.

Sunstone Hotel Investors Stock Performance

Shares of SHO stock opened at $10.64 on Friday. The stock has a fifty day moving average price of $11.63 and a 200 day moving average price of $10.86. The stock has a market cap of $2.14 billion, a PE ratio of 13.99, a P/E/G ratio of 4.55 and a beta of 1.20. Sunstone Hotel Investors, Inc. has a 1 year low of $9.39 and a 1 year high of $12.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Sell-side analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

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.