Vident Advisory LLC Sells 33,572 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Vident Advisory LLC lessened its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 361,104 shares of the real estate investment trust’s stock after selling 33,572 shares during the period. Vident Advisory LLC owned approximately 0.18% of Sunstone Hotel Investors worth $4,275,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in SHO. Barclays PLC increased its position in shares of Sunstone Hotel Investors by 304.9% during the third quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust’s stock worth $3,540,000 after acquiring an additional 258,302 shares in the last quarter. Blue Trust Inc. increased its position in shares of Sunstone Hotel Investors by 44.7% during the fourth quarter. Blue Trust Inc. now owns 31,571 shares of the real estate investment trust’s stock worth $374,000 after acquiring an additional 9,759 shares in the last quarter. KBC Group NV increased its position in shares of Sunstone Hotel Investors by 55.4% during the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 3,249 shares in the last quarter. abrdn plc increased its position in shares of Sunstone Hotel Investors by 63.1% during the fourth quarter. abrdn plc now owns 71,833 shares of the real estate investment trust’s stock worth $850,000 after acquiring an additional 27,778 shares in the last quarter. Finally, Longboard Asset Management LP bought a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth $141,000. Institutional investors own 99.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Truist Financial lowered their price objective on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Evercore ISI upgraded shares of Sunstone Hotel Investors from an “in-line” rating to an “outperform” rating and set a $10.00 target price for the company in a report on Friday, May 16th. Bank of America upgraded shares of Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their target price on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.25.

Sunstone Hotel Investors Stock Performance

Shares of SHO opened at $8.82 on Wednesday. Sunstone Hotel Investors, Inc. has a 12 month low of $7.45 and a 12 month high of $12.41. The firm has a fifty day simple moving average of $8.76 and a 200 day simple moving average of $10.37. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 4.52 and a beta of 1.25. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

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 the consensus estimate of $0.18 by $0.03. The business had revenue of $234.07 million during the quarter, compared to analysts’ expectations of $243.34 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. Research 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Monday, June 30th. Sunstone Hotel Investors’s dividend payout ratio is currently 360.00%.

Sunstone Hotel Investors 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.