OVERSEA CHINESE BANKING Corp Ltd Sells 4,150 Shares of Sunstone Hotel Investors, Inc. $SHO

OVERSEA CHINESE BANKING Corp Ltd lowered its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 155,654 shares of the real estate investment trust’s stock after selling 4,150 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Sunstone Hotel Investors were worth $1,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently 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 valued at $45,000 after acquiring 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 valued at $1,000,000 after acquiring 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 valued at $82,742,000 after acquiring an additional 437,433 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Sunstone Hotel Investors during the first quarter valued at approximately $1,182,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Sunstone Hotel Investors during the first quarter valued at approximately $42,838,000. Institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Trading Up 1.5%

Shares of SHO stock opened at $9.23 on Tuesday. The firm’s 50 day moving average is $9.38 and its 200 day moving average is $8.96. The stock has a market capitalization 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, Inc. has a 12-month low of $7.45 and a 12-month high of $12.41. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.51.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.02. The business had revenue of $259.77 million for the quarter, compared to analysts’ expectations of $256.68 million. Sunstone Hotel Investors had a net margin of 2.15% and a return on equity of 1.12%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 EPS. Research analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Tuesday, September 30th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 1,800.00%.

Wall Street Analyst Weigh In

SHO has been the subject of several analyst reports. Weiss Ratings reissued 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 shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Wells Fargo & Company raised shares of Sunstone Hotel Investors to a “hold” rating in a research report on Friday, October 3rd. Truist Financial dropped their target price on shares of Sunstone Hotel Investors from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, September 3rd. Finally, Wall Street Zen upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.93.

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.