Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 528,196 shares of the real estate investment trust’s stock after selling 3,411 shares during the quarter. Renaissance Technologies LLC owned about 0.26% of Sunstone Hotel Investors worth $5,525,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC grew its position in Sunstone Hotel Investors by 6.2% in the first quarter. Janney Montgomery Scott LLC now owns 20,805 shares of the real estate investment trust’s stock worth $232,000 after acquiring an additional 1,215 shares during the period. Diversified Trust Co grew its holdings in shares of Sunstone Hotel Investors by 3.9% during the 1st quarter. Diversified Trust Co now owns 34,553 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 1,303 shares during the period. Van ECK Associates Corp increased its position in shares of Sunstone Hotel Investors by 5.5% during the 2nd quarter. Van ECK Associates Corp now owns 31,119 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 1,635 shares during the last quarter. ProShare Advisors LLC raised its holdings in Sunstone Hotel Investors by 6.1% in the 1st quarter. ProShare Advisors LLC now owns 41,451 shares of the real estate investment trust’s stock valued at $462,000 after buying an additional 2,388 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in Sunstone Hotel Investors in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Truist Financial dropped their price target on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. StockNews.com cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Wolfe Research raised Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a research note on Friday, September 13th. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.07.

Sunstone Hotel Investors Stock Down 0.3 %

Shares of NYSE SHO opened at $10.58 on Friday. The stock has a market cap of $2.15 billion, a P/E ratio of 11.76, a PEG ratio of 4.50 and a beta of 1.25. The business’s fifty day simple moving average is $10.18 and its 200-day simple moving average is $10.37. Sunstone Hotel Investors, Inc. has a 12-month low of $9.03 and a 12-month high of $11.59. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The company had revenue of $247.50 million during the quarter, compared to analyst estimates of $248.12 million. During the same period in the prior year, the business earned $0.33 EPS. Sunstone Hotel Investors’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.88 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio is presently 33.33%.

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.