Longboard Asset Management LP Buys Shares of 11,904 Sunstone Hotel Investors, Inc. (NYSE:SHO)

Longboard Asset Management LP bought a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 11,904 shares of the real estate investment trust’s stock, valued at approximately $141,000.

Several other large investors also recently bought and sold shares of the company. Heritage Family Offices LLP grew its holdings in Sunstone Hotel Investors by 7.2% in the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 969 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Sunstone Hotel Investors by 0.5% in the third quarter. New York State Teachers Retirement System now owns 294,316 shares of the real estate investment trust’s stock valued at $3,037,000 after purchasing an additional 1,386 shares during the last quarter. GAMMA Investing LLC grew its holdings in Sunstone Hotel Investors by 114.1% in the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,743 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Sunstone Hotel Investors by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 1,937 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Sunstone Hotel Investors by 7.0% in the second quarter. Truist Financial Corp now owns 47,223 shares of the real estate investment trust’s stock valued at $494,000 after purchasing an additional 3,098 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SHO shares. Wells Fargo & Company upped their target price on Sunstone Hotel Investors from $11.00 to $13.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Morgan Stanley reaffirmed an “underweight” rating and set a $10.00 price objective on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group increased their price objective on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.86.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $11.04 on Wednesday. The business’s 50-day moving average price is $11.77 and its 200 day moving average price is $10.78. Sunstone Hotel Investors, Inc. has a twelve month low of $9.39 and a twelve month high of $12.41. The company has a market capitalization of $2.22 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 3.82 and a beta of 1.20. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The business had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $224.61 million. During the same quarter last year, the company posted $0.23 earnings per share. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. On average, research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 3.26%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 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.