Los Angeles Capital Management LLC Acquires Shares of 57,430 Sunstone Hotel Investors, Inc. (NYSE:SHO)

Los Angeles Capital Management LLC bought a new position in Sunstone Hotel Investors, Inc. (NYSE:SHO) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 57,430 shares of the real estate investment trust’s stock, valued at approximately $640,000.

Several other institutional investors also recently modified their holdings of the business. Balyasny Asset Management L.P. grew its position in shares of Sunstone Hotel Investors by 313.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock valued at $41,565,000 after acquiring an additional 2,937,603 shares during the period. Rush Island Management LP increased its position in Sunstone Hotel Investors by 30.3% in the third quarter. Rush Island Management LP now owns 9,579,732 shares of the real estate investment trust’s stock worth $89,570,000 after buying an additional 2,225,579 shares during the last quarter. Norges Bank bought a new stake in shares of Sunstone Hotel Investors in the fourth quarter valued at $14,656,000. Tudor Investment Corp Et Al lifted its position in shares of Sunstone Hotel Investors by 101.8% during the 3rd quarter. Tudor Investment Corp Et Al now owns 489,639 shares of the real estate investment trust’s stock valued at $4,578,000 after buying an additional 247,058 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Sunstone Hotel Investors by 7.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,281,393 shares of the real estate investment trust’s stock worth $35,209,000 after acquiring an additional 236,708 shares during the period. 99.37% of the stock is owned by institutional investors.

Sunstone Hotel Investors Stock Performance

NYSE:SHO opened at $10.22 on Tuesday. The stock has a market cap of $2.08 billion, a P/E ratio of 11.36, a PEG ratio of 4.81 and a beta of 1.23. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $10.24 and its two-hundred day moving average price is $10.66. Sunstone Hotel Investors, Inc. has a twelve month low of $8.61 and a twelve month high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). Sunstone Hotel Investors had a net margin of 20.69% and a return on equity of 10.75%. The company had revenue of $217.17 million during the quarter, compared to analysts’ expectations of $212.00 million. As a group, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.89 EPS for the current fiscal year.

Sunstone Hotel Investors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.09 per share. This is an increase from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 3.52%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 28.89%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHO. Robert W. Baird raised shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $11.00 to $12.00 in a report on Tuesday, May 28th. Compass Point raised shares of Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and boosted their target price for the company from $10.00 to $12.00 in a report on Tuesday, May 7th. Truist Financial cut their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, May 30th. StockNews.com upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Thursday, June 20th. Finally, Baird R W upgraded Sunstone Hotel Investors to a “strong-buy” rating in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.57.

Sunstone Hotel Investors 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.