Sunstone Hotel Investors, Inc. (NYSE:SHO) Position Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 5.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 169,079 shares of the real estate investment trust’s stock after selling 9,148 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Sunstone Hotel Investors were worth $1,769,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Sunstone Hotel Investors by 0.4% during the first quarter. Vanguard Group Inc. now owns 32,326,254 shares of the real estate investment trust’s stock worth $360,114,000 after buying an additional 115,899 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in Sunstone Hotel Investors by 313.8% during the fourth 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 purchasing an additional 2,937,603 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Sunstone Hotel Investors by 7.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,281,393 shares of the real estate investment trust’s stock valued at $35,209,000 after purchasing an additional 236,708 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Sunstone Hotel Investors by 318.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,367,061 shares of the real estate investment trust’s stock worth $14,299,000 after buying an additional 1,039,986 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in shares of Sunstone Hotel Investors by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 1,333,353 shares of the real estate investment trust’s stock worth $13,947,000 after buying an additional 3,726 shares during the period. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Stock Performance

NYSE:SHO opened at $10.30 on Thursday. The firm’s 50-day moving average is $10.17 and its 200-day moving average is $10.34. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 4.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.75 and a current ratio of 3.75. Sunstone Hotel Investors, Inc. has a 52-week low of $9.03 and a 52-week high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $247.50 million for the quarter, compared to the consensus estimate of $248.12 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. Equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.88 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.50%. Sunstone Hotel Investors’s payout ratio is 35.56%.

Analyst Ratings Changes

Several research analysts recently commented on SHO shares. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a report on Friday, September 13th. Wolfe Research raised Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Wednesday, July 10th. Finally, StockNews.com cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.