Picton Mahoney Asset Management Acquires Shares of 16,439 Sunstone Hotel Investors, Inc. (NYSE:SHO)

Picton Mahoney Asset Management bought a new position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,439 shares of the real estate investment trust’s stock, valued at approximately $172,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Sunstone Hotel Investors during the 1st quarter worth about $30,000. Plato Investment Management Ltd bought a new stake in shares of Sunstone Hotel Investors during the first quarter valued at approximately $49,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Sunstone Hotel Investors in the second quarter valued at approximately $52,000. Quadrant Capital Group LLC raised its position in Sunstone Hotel Investors by 35.4% in the 4th quarter. Quadrant Capital Group LLC now owns 5,305 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 1,387 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Sunstone Hotel Investors by 342.9% during the 2nd quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 5,734 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SHO has been the subject of several research reports. Robert W. Baird raised Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $11.00 to $12.00 in a research note on Tuesday, May 28th. Compass Point upgraded Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $12.00 in a research report on Tuesday, May 7th. Wolfe Research upgraded shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Wednesday, July 10th. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Baird R W upgraded shares of Sunstone Hotel Investors to a “strong-buy” rating in a report on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Sunstone Hotel Investors Stock Up 0.9 %

Shares of NYSE SHO opened at $10.43 on Monday. Sunstone Hotel Investors, Inc. has a 52-week low of $8.78 and a 52-week high of $11.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.75 and a current ratio of 3.75. The stock has a market cap of $2.12 billion, a P/E ratio of 11.59, a P/E/G ratio of 4.36 and a beta of 1.24. The firm has a 50 day moving average price of $10.20 and a 200 day moving average price of $10.47.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.16). Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The business had revenue of $247.50 million for the quarter, compared to analyst estimates of $248.12 million. During the same period in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. Analysts expect that Sunstone Hotel Investors, Inc. will post 0.89 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio is 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.