American Century Companies Inc. Purchases 125,809 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

American Century Companies Inc. boosted its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 170.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,580 shares of the real estate investment trust’s stock after buying an additional 125,809 shares during the period. American Century Companies Inc. owned 0.10% of Sunstone Hotel Investors worth $2,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Balyasny Asset Management L.P. raised its stake in Sunstone Hotel Investors by 313.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock worth $41,565,000 after acquiring an additional 2,937,603 shares during the last quarter. Norges Bank purchased a new position in Sunstone Hotel Investors in the 4th quarter worth approximately $14,656,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Sunstone Hotel Investors by 318.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,367,061 shares of the real estate investment trust’s stock valued at $14,299,000 after buying an additional 1,039,986 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Sunstone Hotel Investors by 7.8% during the 4th 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 buying an additional 236,708 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Sunstone Hotel Investors by 572.0% during the 1st quarter. Russell Investments Group Ltd. now owns 219,000 shares of the real estate investment trust’s stock valued at $2,440,000 after buying an additional 186,413 shares during the period. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Up 0.2 %

SHO stock opened at $10.60 on Friday. The company’s 50 day simple moving average is $10.18 and its 200-day simple moving average is $10.36. The firm has a market capitalization of $2.16 billion, a PE ratio of 11.78, a P/E/G ratio of 4.57 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 12 month low of $9.03 and a 12 month high of $11.59. 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 released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.16). The business had revenue of $247.50 million during the quarter, compared to analyst estimates of $248.12 million. Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities analysts expect that Sunstone Hotel Investors, Inc. will post 0.88 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company 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 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, September 30th. Sunstone Hotel Investors’s payout ratio is 35.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SHO shares. StockNews.com downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised shares of 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. Finally, 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 research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.