Amalgamated Bank Reduces Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Amalgamated Bank reduced its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,941 shares of the real estate investment trust’s stock after selling 2,359 shares during the period. Amalgamated Bank’s holdings in Sunstone Hotel Investors were worth $619,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SHO. BNP Paribas Financial Markets increased its stake in Sunstone Hotel Investors by 20.1% in the first quarter. BNP Paribas Financial Markets now owns 109,137 shares of the real estate investment trust’s stock valued at $1,216,000 after purchasing an additional 18,240 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Sunstone Hotel Investors by 6.2% in the first quarter. Janney Montgomery Scott LLC now owns 20,805 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 1,215 shares during the period. Sei Investments Co. boosted its holdings in shares of Sunstone Hotel Investors by 21.6% in the first quarter. Sei Investments Co. now owns 156,229 shares of the real estate investment trust’s stock valued at $1,740,000 after acquiring an additional 27,743 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Sunstone Hotel Investors by 572.0% in the first quarter. Russell Investments Group Ltd. now owns 219,000 shares of the real estate investment trust’s stock valued at $2,440,000 after acquiring an additional 186,413 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Sunstone Hotel Investors by 6.1% in the first quarter. ProShare Advisors LLC now owns 41,451 shares of the real estate investment trust’s stock valued at $462,000 after acquiring an additional 2,388 shares during the period. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHO has been the subject of several research analyst reports. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wells Fargo & Company raised shares of 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Sunstone Hotel Investors currently has a consensus rating of “Hold” and a consensus price target of $11.42.

Sunstone Hotel Investors Stock Down 0.2 %

Shares of NYSE SHO opened at $10.11 on Friday. The stock has a fifty day moving average price of $10.34 and a 200 day moving average price of $10.25. The company has a current ratio of 2.98, a quick ratio of 3.75 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.05 billion, a P/E ratio of 13.30, a P/E/G ratio of 6.56 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 12-month low of $9.39 and a 12-month high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $226.40 million for the quarter, compared to analyst estimates of $224.61 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. Research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.09 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a yield of 3.56%. Sunstone Hotel Investors’s dividend payout ratio is currently 42.11%.

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.