Public Employees Retirement Association of Colorado decreased its holdings in Sunstone Hotel Investors Inc (NYSE:SHO) by 13.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,342 shares of the real estate investment trust’s stock after selling 6,667 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Sunstone Hotel Investors were worth $594,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Sunstone Hotel Investors in the first quarter worth $76,000. Pearl River Capital LLC bought a new stake in Sunstone Hotel Investors during the first quarter valued at $144,000. Berman Capital Advisors LLC bought a new stake in Sunstone Hotel Investors during the second quarter valued at $144,000. ARP Americas LP bought a new stake in Sunstone Hotel Investors during the second quarter valued at $164,000. Finally, Nisa Investment Advisors LLC boosted its position in Sunstone Hotel Investors by 82.2% during the first quarter. Nisa Investment Advisors LLC now owns 12,570 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 5,670 shares during the last quarter.
A number of analysts have commented on the stock. Wells Fargo & Co raised shares of Sunstone Hotel Investors from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research report on Thursday, June 27th. Bank of America cut shares of Sunstone Hotel Investors from a “neutral” rating to an “underperform” rating in a research report on Wednesday, July 17th. Deutsche Bank set a $15.00 price target on shares of Sunstone Hotel Investors and gave the company a “hold” rating in a research report on Friday, August 2nd. ValuEngine cut shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. Finally, TheStreet cut shares of Sunstone Hotel Investors from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Sunstone Hotel Investors has an average rating of “Hold” and a consensus price target of $15.33.
Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.15). Sunstone Hotel Investors had a net margin of 20.14% and a return on equity of 8.97%. The company had revenue of $302.90 million for the quarter, compared to analyst estimates of $297.95 million. During the same quarter in the prior year, the company posted $0.37 EPS. Sunstone Hotel Investors’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, research analysts predict that Sunstone Hotel Investors Inc will post 1.1 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, September 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.53%. Sunstone Hotel Investors’s dividend payout ratio is currently 17.09%.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of February 12, 2019 has interests in 21 hotels comprised of 10,780 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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