Victory Capital Management Inc. Sells 1,924 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Victory Capital Management Inc. reduced its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 4.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,239 shares of the real estate investment trust’s stock after selling 1,924 shares during the quarter. Victory Capital Management Inc.’s holdings in Sunstone Hotel Investors were worth $441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in Sunstone Hotel Investors by 442.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 2,448 shares during the period. GAMMA Investing LLC raised its holdings in Sunstone Hotel Investors by 114.1% during the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 1,743 shares during the period. KBC Group NV raised its holdings in Sunstone Hotel Investors by 55.4% during the 4th quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 3,249 shares during the period. Longboard Asset Management LP purchased a new stake in Sunstone Hotel Investors during the 4th quarter valued at $141,000. Finally, Heritage Family Offices LLP raised its holdings in Sunstone Hotel Investors by 7.2% during the 4th quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 969 shares during the period. 99.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SHO. Wells Fargo & Company decreased their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Morgan Stanley reiterated an “underweight” rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Truist Financial reduced their target price on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Jefferies Financial Group increased their target price on Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.57.

Sunstone Hotel Investors Price Performance

SHO opened at $9.73 on Friday. Sunstone Hotel Investors, Inc. has a 12-month low of $9.39 and a 12-month high of $12.41. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $10.89 and its 200-day simple moving average is $10.88. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 4.52 and a beta of 1.19.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The business had revenue of $214.77 million for the quarter, compared to the consensus estimate of $211.17 million. On average, equities research analysts anticipate 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. Investors of record on Monday, March 31st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors’s payout ratio is currently 257.14%.

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.