Geode Capital Management LLC Grows Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Geode Capital Management LLC grew its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,247,927 shares of the real estate investment trust’s stock after purchasing an additional 109,327 shares during the quarter. Geode Capital Management LLC owned approximately 2.58% of Sunstone Hotel Investors worth $54,169,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Millennium Management LLC increased its stake in Sunstone Hotel Investors by 368.0% in 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 purchasing an additional 1,389,917 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Sunstone Hotel Investors by 460.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,372 shares of the real estate investment trust’s stock valued at $14,596,000 after purchasing an additional 1,161,792 shares during the last quarter. Heitman Real Estate Securities LLC grew its position in Sunstone Hotel Investors by 976.5% during the third quarter. Heitman Real Estate Securities LLC now owns 1,238,002 shares of the real estate investment trust’s stock valued at $12,776,000 after acquiring an additional 1,123,001 shares during the period. NFJ Investment Group LLC purchased a new stake in shares of Sunstone Hotel Investors during the 3rd quarter worth about $3,220,000. Finally, Barclays PLC grew its stake in Sunstone Hotel Investors by 304.9% during the third quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust’s stock worth $3,540,000 after buying an additional 258,302 shares during the period. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Trading Down 0.6 %

NYSE SHO opened at $12.01 on Monday. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 6.45 and a beta of 1.25. 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 12 month low of $9.39 and a 12 month high of $12.41. The company’s fifty day moving average price is $10.88 and its two-hundred day moving average price is $10.45.

Sunstone Hotel Investors (NYSE:SHO) last issued 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 during 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 was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. As a group, research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid 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 3.00%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 44.74%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company increased their price objective on shares of Sunstone Hotel Investors from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.20.

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.