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

Evergreen Capital Management LLC grew its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 12.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,479 shares of the real estate investment trust’s stock after purchasing an additional 1,881 shares during the quarter. Evergreen Capital Management LLC’s holdings in Sunstone Hotel Investors were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SHO. Balyasny Asset Management L.P. grew its position 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 buying an additional 2,937,603 shares during the period. Norges Bank bought a new stake in shares of Sunstone Hotel Investors during the 4th quarter valued at $14,656,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Sunstone Hotel Investors by 318.0% in the 2nd 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 purchasing an additional 1,039,986 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Sunstone Hotel Investors by 7.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,281,393 shares of the real estate investment trust’s stock worth $35,209,000 after purchasing an additional 236,708 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Sunstone Hotel Investors by 572.0% in the 1st 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. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Up 0.2 %

Shares of SHO opened at $10.60 on Friday. The business’s 50 day moving average is $10.18 and its 200 day moving average is $10.36. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors, Inc. has a 12-month low of $9.03 and a 12-month high of $11.59. The company has a market capitalization of $2.16 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 4.57 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last released its 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). Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The company had revenue of $247.50 million during the quarter, compared to analysts’ expectations of $248.12 million. During the same period last year, the firm posted $0.33 EPS. Sunstone Hotel Investors’s quarterly revenue was down 10.4% compared to the same quarter last year. Research analysts expect that Sunstone Hotel Investors, Inc. will post 0.88 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued 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 dividend payout ratio (DPR) is presently 35.56%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SHO shares. Wolfe Research upgraded Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Wednesday, July 10th. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, 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 research note on Friday, September 13th. One 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.42.

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.