Vanguard Group Inc. boosted its stake in shares of Sunstone Hotel Investors Inc. (NYSE:SHO) by 5.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 33,464,939 shares of the company’s stock after buying an additional 1,854,945 shares during the period. Vanguard Group Inc. owned approximately 15.45% of Sunstone Hotel Investors worth $403,921,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SHO. Principal Financial Group Inc. boosted its position in Sunstone Hotel Investors by 4.9% in the second quarter. Principal Financial Group Inc. now owns 10,985,706 shares of the company’s stock valued at $132,598,000 after buying an additional 513,183 shares during the period. Hancock Holding Co. bought a new position in shares of Sunstone Hotel Investors during the second quarter worth about $214,000. Dimensional Fund Advisors LP boosted its position in shares of Sunstone Hotel Investors by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,923,793 shares of the company’s stock worth $35,290,000 after buying an additional 52,408 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Sunstone Hotel Investors by 14.7% in the second quarter. Teacher Retirement System of Texas now owns 30,361 shares of the company’s stock worth $366,000 after buying an additional 3,896 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Sunstone Hotel Investors by 65.4% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 174,578 shares of the company’s stock worth $2,107,000 after buying an additional 69,053 shares during the last quarter.
Sunstone Hotel Investors Inc. (NYSE:SHO) opened at 12.655 on Wednesday. Sunstone Hotel Investors Inc. has a 52-week low of $9.53 and a 52-week high of $15.08. The stock has a 50 day moving average price of $13.08 and a 200 day moving average price of $12.85. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 7.764 and a beta of 1.24.
Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Sunstone Hotel Investors had a net margin of 29.66% and a return on equity of 15.15%. The business earned $322.20 million during the quarter, compared to the consensus estimate of $323.40 million. During the same period in the previous year, the business earned $0.43 earnings per share. The company’s revenue was down 5.0% on a year-over-year basis. Analysts anticipate that Sunstone Hotel Investors Inc. will post $1.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 annualized dividend and a yield of 1.57%. Sunstone Hotel Investors’s dividend payout ratio is currently 12.20%.
SHO has been the subject of a number of recent research reports. Morgan Stanley cut Sunstone Hotel Investors from an “equal weight” rating to an “underweight” rating and set a $11.00 target price for the company. in a report on Monday, September 26th. Canaccord Genuity reissued a “buy” rating on shares of Sunstone Hotel Investors in a report on Tuesday, August 16th. Zacks Investment Research cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. FBR & Co set a $16.00 target price on Sunstone Hotel Investors and gave the stock a “buy” rating in a report on Thursday, August 11th. Finally, Citigroup Inc. increased their target price on Sunstone Hotel Investors from $13.50 to $14.00 and gave the stock a “neutral” rating in a report on Monday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Sunstone Hotel Investors currently has a consensus rating of “Buy” and an average target price of $14.23.
In other Sunstone Hotel Investors news, COO Marc Andrew Hoffman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $13.92, for a total transaction of $139,200.00. Following the completion of the transaction, the chief operating officer now directly owns 236,709 shares in the company, valued at $3,294,989.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas A. Lewis sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $13.48, for a total transaction of $337,000.00. Following the transaction, the director now owns 57,963 shares of the company’s stock, valued at $781,341.24. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a self-managed and self-administered real estate investment trust (REIT). The Company’s business is to acquire, own, asset manage and renovate full-service hotel and select focus-service hotel properties in the United States. The Company operates through hotel ownership segment.
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