Public Sector Pension Investment Board Has $4.69 Million Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Public Sector Pension Investment Board boosted its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 6.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 448,150 shares of the real estate investment trust’s stock after purchasing an additional 27,049 shares during the quarter. Public Sector Pension Investment Board’s holdings in Sunstone Hotel Investors were worth $4,688,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in shares of Sunstone Hotel Investors during the first quarter worth $30,000. Federated Hermes Inc. bought a new position in Sunstone Hotel Investors during the second quarter worth about $34,000. Plato Investment Management Ltd bought a new position in Sunstone Hotel Investors during the first quarter worth about $49,000. 1620 Investment Advisors Inc. acquired a new position in Sunstone Hotel Investors in the second quarter valued at about $52,000. Finally, Blue Trust Inc. increased its holdings in shares of Sunstone Hotel Investors by 342.9% in the second quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 5,734 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Performance

Shares of SHO opened at $10.58 on Friday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 4.50 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 12 month low of $9.03 and a 12 month high of $11.59. The firm has a fifty day simple moving average of $10.18 and a 200 day simple moving average of $10.37. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results 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 the consensus estimate of $248.12 million. During the same period last year, the firm earned $0.33 earnings per share. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.88 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.09 per share. The ex-dividend date is Monday, September 30th. This represents a $0.36 annualized dividend and a yield of 3.40%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 33.33%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SHO shares. Wells Fargo & Company upgraded Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective on the stock in a report on Friday, September 13th. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Truist Financial lowered their price objective on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Finally, Wolfe Research raised shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 target price for the company in a research note on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.07.

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.