Trust Point Inc. Cuts Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Trust Point Inc. reduced its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,022 shares of the real estate investment trust’s stock after selling 2,294 shares during the period. Trust Point Inc.’s holdings in Sunstone Hotel Investors were worth $558,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Millennium Management LLC boosted its stake in shares of Sunstone Hotel Investors by 368.0% in the second quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock valued at $18,489,000 after purchasing an additional 1,389,917 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Sunstone Hotel Investors by 318.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,367,061 shares of the real estate investment trust’s stock valued at $14,299,000 after purchasing an additional 1,039,986 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Sunstone Hotel Investors during the 2nd quarter worth approximately $2,165,000. Russell Investments Group Ltd. raised its position in shares of Sunstone Hotel Investors by 572.0% in the 1st quarter. Russell Investments Group Ltd. now owns 219,000 shares of the real estate investment trust’s stock valued at $2,440,000 after purchasing an additional 186,413 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new stake in shares of Sunstone Hotel Investors in the second quarter worth $1,664,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SHO shares. Wolfe Research raised shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Wednesday, July 10th. Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target on the stock in a research report on Friday, September 13th. Finally, StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sunstone Hotel Investors currently has a consensus rating of “Hold” and a consensus target price of $11.42.

Sunstone Hotel Investors Stock Performance

SHO stock opened at $10.28 on Friday. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.03 and a fifty-two week high of $11.59. The company has a market capitalization of $2.09 billion, a P/E ratio of 11.42, a PEG ratio of 4.38 and a beta of 1.24. The company has a 50-day simple moving average of $10.24 and a 200 day simple moving average of $10.28. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last released its 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 return on equity of 9.75% and a net margin of 19.51%. The firm had revenue of $247.50 million for the quarter, compared to analyst estimates of $248.12 million. During the same period in the previous year, the firm earned $0.33 earnings per share. Sunstone Hotel Investors’s revenue was down 10.4% on a year-over-year basis. Sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.88 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.50%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 35.56%.

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.