Rhumbline Advisers cut its position in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 11.4% during the 4th quarter, Holdings Channel reports. The firm owned 298,625 shares of the real estate investment trust’s stock after selling 38,598 shares during the quarter. Rhumbline Advisers’ holdings in Sunstone Hotel Investors were worth $4,936,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in SHO. Rothschild Asset Management Inc. purchased a new position in Sunstone Hotel Investors during the third quarter worth about $13,013,000. Daiwa Securities Group Inc. boosted its holdings in Sunstone Hotel Investors by 5.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,046,576 shares of the real estate investment trust’s stock worth $232,190,000 after purchasing an additional 754,542 shares during the last quarter. Adelante Capital Management LLC boosted its holdings in Sunstone Hotel Investors by 133.9% during the third quarter. Adelante Capital Management LLC now owns 1,020,403 shares of the real estate investment trust’s stock worth $16,398,000 after purchasing an additional 584,135 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Sunstone Hotel Investors by 9.3% during the third quarter. JPMorgan Chase & Co. now owns 6,531,026 shares of the real estate investment trust’s stock worth $105,148,000 after purchasing an additional 554,518 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Sunstone Hotel Investors by 18.6% during the third quarter. Ameriprise Financial Inc. now owns 3,133,327 shares of the real estate investment trust’s stock worth $50,352,000 after purchasing an additional 490,305 shares during the last quarter.
A number of research analysts have weighed in on the stock. Boenning Scattergood upgraded shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research note on Wednesday, February 21st. Raymond James Financial reiterated a “market perform” rating on shares of Sunstone Hotel Investors in a research note on Monday, January 8th. Wells Fargo & Co reiterated a “market perform” rating and issued a $17.50 target price on shares of Sunstone Hotel Investors in a research note on Tuesday, December 19th. B. Riley set a $16.00 target price on shares of Sunstone Hotel Investors and gave the company a “hold” rating in a research note on Monday, February 12th. Finally, Robert W. Baird set a $17.00 target price on shares of Sunstone Hotel Investors and gave the company a “hold” rating in a research note on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Sunstone Hotel Investors has an average rating of “Hold” and an average price target of $15.93.
Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Monday, February 12th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.19). The company had revenue of $290.19 million during the quarter, compared to analysts’ expectations of $284.59 million. Sunstone Hotel Investors had a net margin of 12.53% and a return on equity of 5.56%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 earnings per share. equities research analysts anticipate that Sunstone Hotel Investors Inc will post 1.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, March 28th. Sunstone Hotel Investors’s payout ratio is currently 386.67%.
In related news, CFO Bryan Albert Giglia sold 18,426 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $16.73, for a total transaction of $308,266.98. Following the sale, the chief financial officer now directly owns 229,833 shares in the company, valued at approximately $3,845,106.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.
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Sunstone Hotel Investors Profile
Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. The Company operates through hotel ownership segment.
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