Nomura Asset Management Co. Ltd. Sells 3,400 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Nomura Asset Management Co. Ltd. lowered its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 253,900 shares of the real estate investment trust’s stock after selling 3,400 shares during the period. Nomura Asset Management Co. Ltd. owned 0.12% of Sunstone Hotel Investors worth $2,620,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Millennium Management LLC raised its position in Sunstone Hotel Investors by 368.0% during the second quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock worth $18,489,000 after acquiring an additional 1,389,917 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Sunstone Hotel Investors by 460.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,372 shares of the real estate investment trust’s stock worth $14,596,000 after purchasing an additional 1,161,792 shares during the last quarter. Heitman Real Estate Securities LLC raised its holdings in shares of Sunstone Hotel Investors by 976.5% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 1,238,002 shares of the real estate investment trust’s stock valued at $12,776,000 after purchasing an additional 1,123,001 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Sunstone Hotel Investors by 318.0% in 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 during the last quarter. Finally, NFJ Investment Group LLC bought a new position in Sunstone Hotel Investors during the third quarter worth about $3,220,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company boosted their target price on Sunstone Hotel Investors from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, three 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, Sunstone Hotel Investors currently has an average rating of “Hold” and an average target price of $12.20.

Sunstone Hotel Investors Trading Down 0.3 %

Shares of NYSE:SHO opened at $12.21 on Friday. The stock has a market cap of $2.45 billion, a PE ratio of 16.07, a P/E/G ratio of 6.46 and a beta of 1.25. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. Sunstone Hotel Investors, Inc. has a 12-month low of $9.39 and a 12-month high of $12.35. The business has a 50 day moving average of $10.69 and a 200-day moving average of $10.38.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm had revenue of $226.40 million during the quarter, compared to analyst estimates of $224.61 million. During the same period in the prior year, the company earned $0.23 earnings per share. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors’s dividend payout ratio is currently 44.74%.

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.