Assetmark Inc. Lowers Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Assetmark Inc. lessened its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 15.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 59,021 shares of the real estate investment trust’s stock after selling 11,061 shares during the quarter. Assetmark Inc.’s holdings in Sunstone Hotel Investors were worth $609,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Sunstone Hotel Investors by 0.4% during the first quarter. Vanguard Group Inc. now owns 32,326,254 shares of the real estate investment trust’s stock valued at $360,114,000 after acquiring an additional 115,899 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Sunstone Hotel Investors by 1.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,818,270 shares of the real estate investment trust’s stock worth $29,479,000 after purchasing an additional 51,203 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Sunstone Hotel Investors by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,651,189 shares of the real estate investment trust’s stock worth $27,731,000 after purchasing an additional 25,086 shares during the period. Millennium Management LLC grew its stake in Sunstone Hotel Investors by 368.0% in the 2nd quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock valued at $18,489,000 after acquiring an additional 1,389,917 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Sunstone Hotel Investors by 318.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,367,061 shares of the real estate investment trust’s stock valued at $14,299,000 after purchasing an additional 1,039,986 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective for the company in a research report on Friday, September 13th. StockNews.com cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.42.

Sunstone Hotel Investors Trading Down 0.2 %

Shares of Sunstone Hotel Investors stock opened at $10.11 on Friday. The business has a fifty day simple moving average of $10.34 and a 200-day simple moving average of $10.25. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 6.56 and a beta of 1.25. The company has a quick ratio of 3.75, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last issued 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 firm had revenue of $226.40 million during the quarter, compared to analyst estimates of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 earnings per share. On average, equities analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

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

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.