New York State Common Retirement Fund Buys 4,520 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

New York State Common Retirement Fund raised its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 345,449 shares of the real estate investment trust’s stock after acquiring an additional 4,520 shares during the period. New York State Common Retirement Fund owned approximately 0.17% of Sunstone Hotel Investors worth $4,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in shares of Sunstone Hotel Investors by 645.6% in the 4th quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust’s stock worth $98,929,000 after purchasing an additional 7,234,862 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Sunstone Hotel Investors by 460.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,372 shares of the real estate investment trust’s stock worth $14,596,000 after purchasing an additional 1,161,792 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Sunstone Hotel Investors by 31.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock worth $49,284,000 after purchasing an additional 1,130,558 shares during the period. Heitman Real Estate Securities LLC lifted its stake in shares of Sunstone Hotel Investors by 976.5% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 1,238,002 shares of the real estate investment trust’s stock worth $12,776,000 after purchasing an additional 1,123,001 shares during the period. Finally, NFJ Investment Group LLC bought a new position in shares of Sunstone Hotel Investors in the 3rd quarter worth approximately $3,220,000. Institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Trading Down 0.2 %

Shares of SHO opened at $10.44 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. Sunstone Hotel Investors, Inc. has a 1 year low of $9.39 and a 1 year high of $12.41. The company has a 50 day simple moving average of $11.50 and a two-hundred day simple moving average of $10.88. The firm has a market cap of $2.10 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 4.52 and a beta of 1.20.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The business had revenue of $214.77 million during the quarter, compared to analyst estimates of $211.17 million. On average, equities analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 257.14%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $10.00 price objective on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Jefferies Financial Group increased their price objective on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Two 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.71.

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.