Gareth Morgan Investments Limited Partnership bought a new stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 88,953 shares of the real estate investment trust’s stock, valued at approximately $1,364,000.
A number of other institutional investors also recently added to or reduced their stakes in SHO. Envestnet Asset Management Inc. increased its position in Sunstone Hotel Investors by 6.0% in the first quarter. Envestnet Asset Management Inc. now owns 7,919 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 449 shares during the period. GSA Capital Partners LLP acquired a new stake in Sunstone Hotel Investors during the fourth quarter worth approximately $166,000. Paragon Capital Management Ltd acquired a new stake in Sunstone Hotel Investors during the first quarter worth approximately $167,000. Greenwich Wealth Management LLC acquired a new stake in Sunstone Hotel Investors during the first quarter worth approximately $170,000. Finally, Breton Hill Capital Ltd. acquired a new stake in Sunstone Hotel Investors during the first quarter worth approximately $175,000.
Shares of Sunstone Hotel Investors, Inc. (SHO) traded down 0.24% during midday trading on Thursday, hitting $16.42. The stock had a trading volume of 1,954,220 shares. The firm has a 50 day moving average price of $15.85 and a 200-day moving average price of $15.29. The stock has a market cap of $3.62 billion, a PE ratio of 19.85 and a beta of 1.21. Sunstone Hotel Investors, Inc. has a 52-week low of $11.26 and a 52-week high of $16.74.
Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. The company had revenue of $280.74 million during the quarter, compared to the consensus estimate of $271.02 million. Sunstone Hotel Investors had a net margin of 16.42% and a return on equity of 8.31%. Equities analysts predict that Sunstone Hotel Investors, Inc. will post $0.62 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.22%. Sunstone Hotel Investors’s payout ratio is 24.10%.
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A number of equities research analysts have commented on SHO shares. FBR & Co reissued a “hold” rating on shares of Sunstone Hotel Investors in a report on Wednesday, February 22nd. Bank of America Corporation cut Sunstone Hotel Investors from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Friday, March 3rd. Evercore ISI cut Sunstone Hotel Investors from a “hold” rating to an “underperform” rating in a report on Friday, March 3rd. Goldman Sachs Group, Inc. (The) started coverage on Sunstone Hotel Investors in a report on Monday, April 10th. They set a “sell” rating and a $13.00 price target on the stock. Finally, Boenning Scattergood reissued a “neutral” rating on shares of Sunstone Hotel Investors in a report on Wednesday, April 12th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $15.42.
Sunstone Hotel Investors Company Profile
Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust. The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. It operates through hotel ownership segment. It owns primarily urban and resort upper upscale hotels in the United States.
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