BlackRock Inc. decreased its holdings in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,346,428 shares of the real estate investment trust’s stock after selling 1,452,701 shares during the quarter. BlackRock Inc. owned approximately 0.10% of Sunstone Hotel Investors worth $320,080,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Nuveen Asset Management LLC lifted its holdings in Sunstone Hotel Investors by 33.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 7,595,524 shares of the real estate investment trust’s stock valued at $104,134,000 after purchasing an additional 1,890,600 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in Sunstone Hotel Investors by 49.4% during the 2nd quarter. Landscape Capital Management L.L.C. now owns 169,220 shares of the real estate investment trust’s stock valued at $2,320,000 after purchasing an additional 55,939 shares during the last quarter. Crestline Management LP acquired a new stake in shares of Sunstone Hotel Investors during the second quarter worth $8,633,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sunstone Hotel Investors by 3.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,966,334 shares of the real estate investment trust’s stock worth $54,379,000 after buying an additional 115,568 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America lifted its holdings in shares of Sunstone Hotel Investors by 101.1% during the second quarter. Teachers Insurance & Annuity Association of America now owns 424,419 shares of the real estate investment trust’s stock worth $5,818,000 after buying an additional 213,335 shares in the last quarter.
SHO opened at $14.03 on Friday. Sunstone Hotel Investors Inc has a fifty-two week low of $12.54 and a fifty-two week high of $15.62. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.39 and a current ratio of 6.39. The company has a market capitalization of $3.09 billion, a P/E ratio of 11.99, a P/E/G ratio of 2.08 and a beta of 1.02. The stock has a fifty day moving average of $13.70 and a 200-day moving average of $13.64.
Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.16). Sunstone Hotel Investors had a return on equity of 6.71% and a net margin of 15.10%. The firm had revenue of $281.64 million for the quarter, compared to analyst estimates of $278.57 million. During the same period in the prior year, the business posted $0.30 EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that Sunstone Hotel Investors Inc will post 1.1 earnings per share for the current fiscal year.
SHO has been the subject of a number of research reports. Zacks Investment Research raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their target price on Sunstone Hotel Investors from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Friday, September 6th. Deutsche Bank set a $15.00 target price on Sunstone Hotel Investors and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, ValuEngine raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.25.
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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