Belvedere Trading LLC Purchases Shares of 14,164 Sunstone Hotel Investors, Inc. $SHO

Belvedere Trading LLC purchased a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) during the second quarter, HoldingsChannel.com reports. The fund purchased 14,164 shares of the real estate investment trust’s stock, valued at approximately $123,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SHO. GAMMA Investing LLC increased its position in shares of Sunstone Hotel Investors by 47.7% during the first quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,560 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Sunstone Hotel Investors by 11.7% during the first quarter. Illinois Municipal Retirement Fund now owns 106,237 shares of the real estate investment trust’s stock worth $1,000,000 after purchasing an additional 11,145 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Sunstone Hotel Investors by 5.2% during the first quarter. Principal Financial Group Inc. now owns 8,793,005 shares of the real estate investment trust’s stock worth $82,742,000 after purchasing an additional 437,433 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Sunstone Hotel Investors during the first quarter worth about $1,182,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Sunstone Hotel Investors during the first quarter worth about $1,504,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SHO shares. Truist Financial cut their target price on Sunstone Hotel Investors from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, September 3rd. Wall Street Zen upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sunstone Hotel Investors in a research report on Wednesday, October 8th. Evercore ISI raised their price target on Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Finally, Wells Fargo & Company raised Sunstone Hotel Investors to a “hold” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.93.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $9.23 on Tuesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.51. Sunstone Hotel Investors, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41. The business’s 50-day moving average price is $9.38 and its 200 day moving average price is $8.96. The firm has a market cap of $1.75 billion, a P/E ratio of 461.88, a P/E/G ratio of 5.33 and a beta of 1.29.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.02. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The company had revenue of $259.77 million for the quarter, compared to analyst estimates of $256.68 million. During the same quarter in the previous year, the company earned $0.28 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 30th. Sunstone Hotel Investors’s payout ratio is currently 1,800.00%.

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.