Tributary Capital Management LLC Reduces Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Tributary Capital Management LLC reduced its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329,627 shares of the real estate investment trust’s stock after selling 8,540 shares during the period. Tributary Capital Management LLC owned about 0.65% of Sunstone Hotel Investors worth $14,812,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SHO. Quadrant Capital Group LLC increased its position in Sunstone Hotel Investors by 35.4% during the fourth quarter. Quadrant Capital Group LLC now owns 5,305 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 1,387 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Sunstone Hotel Investors during the fourth quarter worth $125,000. Evergreen Capital Management LLC purchased a new position in Sunstone Hotel Investors during the third quarter worth $127,000. Metis Global Partners LLC increased its position in Sunstone Hotel Investors by 15.7% during the fourth quarter. Metis Global Partners LLC now owns 14,062 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 1,909 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Sunstone Hotel Investors during the third quarter worth $152,000. 99.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHO has been the subject of several recent research reports. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Friday. Truist Financial decreased their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Compass Point upgraded Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $12.00 in a report on Tuesday, May 7th. Robert W. Baird upgraded Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $11.00 to $12.00 in a report on Tuesday, May 28th. Finally, Baird R W upgraded Sunstone Hotel Investors to a “strong-buy” rating in a report on Tuesday, May 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.57.

Sunstone Hotel Investors Price Performance

Shares of Sunstone Hotel Investors stock opened at $10.18 on Tuesday. Sunstone Hotel Investors, Inc. has a twelve month low of $8.61 and a twelve month high of $11.59. The stock has a market capitalization of $2.07 billion, a P/E ratio of 11.27, a PEG ratio of 4.97 and a beta of 1.24. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $10.24 and its 200 day moving average price is $10.65.

Sunstone Hotel Investors (NYSE:SHO) last issued 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 firm had revenue of $217.17 million during the quarter, compared to analyst estimates of $212.00 million. As a group, research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.89 earnings per share for the current year.

Sunstone Hotel Investors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, June 28th. This is a boost from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. Sunstone Hotel Investors’s payout ratio is currently 33.33%.

About Sunstone Hotel Investors

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.