ProShare Advisors LLC Purchases 21,785 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

ProShare Advisors LLC increased its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 52.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,236 shares of the real estate investment trust’s stock after buying an additional 21,785 shares during the period. ProShare Advisors LLC’s holdings in Sunstone Hotel Investors were worth $661,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SHO. Norges Bank acquired a new stake in Sunstone Hotel Investors in the fourth quarter worth $14,656,000. Hsbc Holdings PLC lifted its position in shares of Sunstone Hotel Investors by 12.7% during the fourth quarter. Hsbc Holdings PLC now owns 119,751 shares of the real estate investment trust’s stock valued at $1,285,000 after purchasing an additional 13,502 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Sunstone Hotel Investors by 7.8% during the fourth 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 purchasing an additional 236,708 shares in the last quarter. First National Bank of Omaha lifted its position in shares of Sunstone Hotel Investors by 10.4% during the fourth quarter. First National Bank of Omaha now owns 53,048 shares of the real estate investment trust’s stock valued at $569,000 after purchasing an additional 4,989 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of 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 purchasing an additional 2,937,603 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wolfe Research raised 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 report on Wednesday, July 10th. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective on the stock in a research report on Friday, September 13th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.42.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $10.60 on Monday. The company’s 50 day moving average is $10.18 and its 200-day moving average is $10.35. Sunstone Hotel Investors, Inc. has a 12-month low of $9.03 and a 12-month high of $11.59. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.16 billion, a P/E 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 posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The business had revenue of $247.50 million during the quarter, compared to the consensus estimate of $248.12 million. During the same period last year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.88 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 35.56%.

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.