Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund cut its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 48.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,300 shares of the real estate investment trust’s stock after selling 99,700 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.05% of Sunstone Hotel Investors worth $1,107,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SHO. Federated Hermes Inc. acquired a new position in shares of Sunstone Hotel Investors in the 2nd quarter valued at about $34,000. Quarry LP boosted its stake in Sunstone Hotel Investors by 584.1% in the second quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 3,680 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Sunstone Hotel Investors during the second quarter valued at approximately $52,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Sunstone Hotel Investors during the 3rd quarter worth approximately $59,000. Finally, Blue Trust Inc. lifted its holdings in shares of Sunstone Hotel Investors by 342.9% in the 2nd quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 5,734 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a research report on Friday, September 13th. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sunstone Hotel Investors has an average rating of “Hold” and a consensus price target of $11.42.

Sunstone Hotel Investors Stock Up 0.2 %

Shares of Sunstone Hotel Investors stock opened at $10.77 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. Sunstone Hotel Investors, Inc. has a 1-year low of $9.39 and a 1-year high of $11.59. The business’s fifty day moving average price is $10.39 and its two-hundred day moving average price is $10.26. The company has a market capitalization of $2.16 billion, a P/E ratio of 14.14, a PEG ratio of 5.69 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data 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 company had revenue of $226.40 million for the quarter, compared to the consensus estimate of $224.61 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. Sunstone Hotel Investors’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 3.34%. Sunstone Hotel Investors’s payout ratio is 44.74%.

Sunstone Hotel Investors 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.