Amalgamated Bank Sells 3,284 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Amalgamated Bank reduced its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,300 shares of the real estate investment trust’s stock after selling 3,284 shares during the period. Amalgamated Bank’s holdings in Sunstone Hotel Investors were worth $652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in shares of Sunstone Hotel Investors by 6.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,805 shares of the real estate investment trust’s stock worth $232,000 after buying an additional 1,215 shares during the period. Diversified Trust Co boosted its holdings in Sunstone Hotel Investors by 3.9% in the first quarter. Diversified Trust Co now owns 34,553 shares of the real estate investment trust’s stock worth $385,000 after acquiring an additional 1,303 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Sunstone Hotel Investors by 5.5% in the second quarter. Van ECK Associates Corp now owns 31,119 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 1,635 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Sunstone Hotel Investors by 6.1% during the first quarter. ProShare Advisors LLC now owns 41,451 shares of the real estate investment trust’s stock valued at $462,000 after acquiring an additional 2,388 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Sunstone Hotel Investors in the 1st quarter worth about $30,000. 99.37% of the stock is currently owned by institutional investors.

Sunstone Hotel Investors Trading Up 0.2 %

Shares of SHO stock opened at $10.60 on Friday. The company has a market cap of $2.16 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 4.57 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 1 year low of $9.03 and a 1 year high of $11.59. The stock’s 50 day simple moving average is $10.18 and its two-hundred day simple moving average is $10.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.75 and a quick ratio of 3.75.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The company had revenue of $247.50 million for the quarter, compared to the consensus estimate of $248.12 million. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Research analysts predict that Sunstone Hotel Investors, Inc. will post 0.88 earnings per share 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. Investors of record on Monday, September 30th 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 3.40%. The ex-dividend date is Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 35.56%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SHO. Wolfe Research upgraded shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Wednesday, July 10th. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price for the company in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have given 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 has an average rating of “Hold” and a consensus price target of $11.42.

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.