Pitcairn Co. Grows Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Pitcairn Co. raised its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 9.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 31,473 shares of the real estate investment trust’s stock after acquiring an additional 2,649 shares during the period. Pitcairn Co.’s holdings in Sunstone Hotel Investors were worth $373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its holdings in Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 2,448 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Sunstone Hotel Investors by 114.1% in the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,743 shares during the last quarter. KBC Group NV grew its stake in shares of 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 acquired a new stake in shares of Sunstone Hotel Investors during the 4th quarter worth $141,000. Finally, Heritage Family Offices LLP raised its position in shares of Sunstone Hotel Investors by 7.2% in the 4th quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 969 shares during the period. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Down 3.8 %

Shares of NYSE:SHO opened at $8.30 on Friday. The company has a 50 day moving average of $10.44 and a two-hundred day moving average of $10.84. Sunstone Hotel Investors, Inc. has a 52-week low of $8.01 and a 52-week high of $12.41. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share 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. As a group, analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio is currently 257.14%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SHO. Jefferies Financial Group boosted their price target on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday, January 2nd. Wells Fargo & Company dropped their target price on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Morgan Stanley reaffirmed an “underweight” rating and set a $10.00 price target on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Finally, Truist Financial dropped their price objective on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.57.

Sunstone Hotel Investors Company Profile

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.