Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,689 shares of the real estate investment trust’s stock after selling 6,730 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Sunstone Hotel Investors worth $1,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in Sunstone Hotel Investors by 7.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,281,393 shares of the real estate investment trust’s stock valued at $35,209,000 after buying an additional 236,708 shares in the last quarter. Norges Bank purchased a new position in Sunstone Hotel Investors in the fourth quarter valued at about $14,656,000. Balyasny Asset Management L.P. increased its holdings in Sunstone Hotel Investors by 313.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock valued at $41,565,000 after buying an additional 2,937,603 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Sunstone Hotel Investors by 39.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 327,075 shares of the real estate investment trust’s stock valued at $3,644,000 after buying an additional 91,852 shares in the last quarter. Finally, Heritage Wealth Management LLC purchased a new position in Sunstone Hotel Investors in the fourth quarter valued at about $163,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Up 0.5 %

Shares of NYSE SHO opened at $10.57 on Monday. Sunstone Hotel Investors, Inc. has a 52-week low of $8.61 and a 52-week high of $11.59. The firm has a fifty day moving average of $10.24 and a 200-day moving average of $10.61. The stock has a market capitalization of $2.15 billion, a PE ratio of 11.74, a P/E/G ratio of 5.02 and a beta of 1.24. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). Sunstone Hotel Investors had a return on equity of 10.75% and a net margin of 20.69%. The business had revenue of $217.17 million for the quarter, compared to analysts’ expectations of $212.00 million. On average, analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.89 EPS for the current year.

Sunstone Hotel Investors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.41%. This is a boost from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, June 28th. Sunstone Hotel Investors’s dividend payout ratio is 33.33%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Robert W. Baird raised shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $11.00 to $12.00 in a research note on Tuesday, May 28th. Truist Financial dropped their price objective on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Compass Point upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and raised their target price for the stock from $10.00 to $12.00 in a research report on Tuesday, May 7th. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Finally, Wolfe Research upgraded shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.75.

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.