Sunstone Hotel Investors, Inc. (NYSE:SHO) Position Decreased by Amalgamated Bank

Amalgamated Bank trimmed its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 59,941 shares of the real estate investment trust’s stock after selling 2,359 shares during the period. Amalgamated Bank’s holdings in Sunstone Hotel Investors were worth $619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of Sunstone Hotel Investors by 572.0% during the first quarter. Russell Investments Group Ltd. now owns 219,000 shares of the real estate investment trust’s stock worth $2,440,000 after purchasing an additional 186,413 shares during the period. American Century Companies Inc. raised its position in Sunstone Hotel Investors by 170.5% during the second quarter. American Century Companies Inc. now owns 199,580 shares of the real estate investment trust’s stock valued at $2,088,000 after acquiring an additional 125,809 shares in the last quarter. Miller Howard Investments Inc. NY bought a new position in Sunstone Hotel Investors during the second quarter valued at approximately $303,000. Millennium Management LLC raised its position in Sunstone Hotel Investors by 368.0% during the second quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock valued at $18,489,000 after acquiring an additional 1,389,917 shares in the last quarter. Finally, Algert Global LLC bought a new position in Sunstone Hotel Investors during the second quarter valued at approximately $1,187,000. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SHO shares. Wells Fargo & Company raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target on the stock in a research report on Friday, September 13th. StockNews.com lowered shares of 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 assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.42.

Sunstone Hotel Investors Price Performance

Shares of SHO opened at $10.11 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.75 and a current ratio of 2.98. The stock has a 50 day simple moving average of $10.34 and a 200 day simple moving average of $10.25. Sunstone Hotel Investors, Inc. has a 52-week low of $9.39 and a 52-week high of $11.59. The firm has a market capitalization of $2.05 billion, a PE ratio of 13.30, a P/E/G ratio of 6.56 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $226.40 million for the quarter, compared to analyst estimates of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company’s revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. Sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.56%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors’s payout ratio is 42.11%.

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.