Point72 Asset Management L.P. Acquires New Shares in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Point72 Asset Management L.P. acquired a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) during the 4th quarter, Holdings Channel.com reports. The fund acquired 50,062 shares of the real estate investment trust’s stock, valued at approximately $593,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SHO. Barclays PLC lifted its position in Sunstone Hotel Investors by 304.9% in the 3rd quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust’s stock valued at $3,540,000 after acquiring an additional 258,302 shares in the last quarter. Blue Trust Inc. lifted its position in Sunstone Hotel Investors by 44.7% in the 4th quarter. Blue Trust Inc. now owns 31,571 shares of the real estate investment trust’s stock valued at $374,000 after acquiring an additional 9,759 shares in the last quarter. KBC Group NV lifted its position in Sunstone Hotel Investors by 55.4% in the 4th quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 3,249 shares in the last quarter. abrdn plc lifted its position in Sunstone Hotel Investors by 63.1% in the 4th quarter. abrdn plc now owns 71,833 shares of the real estate investment trust’s stock valued at $850,000 after acquiring an additional 27,778 shares in the last quarter. Finally, Longboard Asset Management LP bought a new position in Sunstone Hotel Investors in the 4th quarter valued at approximately $141,000. 99.37% of the stock is owned by institutional investors.

Sunstone Hotel Investors Price Performance

Shares of Sunstone Hotel Investors stock opened at $8.67 on Friday. Sunstone Hotel Investors, Inc. has a one year low of $7.45 and a one year high of $12.41. The stock’s fifty day moving average is $8.72 and its 200 day moving average is $10.35. The stock has a market cap of $1.72 billion, a P/E ratio of 11.40, a P/E/G ratio of 4.52 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company had revenue of $234.07 million for the quarter, compared to analysts’ expectations of $243.34 million. During the same period last year, the firm earned $0.18 EPS. Sunstone Hotel Investors’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.09 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.36 dividend on an annualized basis and a yield of 4.15%. Sunstone Hotel Investors’s dividend payout ratio is currently 360.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America raised Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Wednesday, April 30th. Wells Fargo & Company lowered 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. Jefferies Financial Group lowered their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley lowered their price target on Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Evercore ISI raised Sunstone Hotel Investors from an “in-line” rating to an “outperform” rating and set a $10.00 price target on the stock in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.25.

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.