Heritage Wealth Management LLC Acquires Shares of 15,161 Sunstone Hotel Investors, Inc. (NYSE:SHO)

Heritage Wealth Management LLC acquired a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,161 shares of the real estate investment trust’s stock, valued at approximately $163,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Sunstone Hotel Investors by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 29,201 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 4,802 shares during the last quarter. Yousif Capital Management LLC increased its stake in shares of Sunstone Hotel Investors by 7.0% in the fourth quarter. Yousif Capital Management LLC now owns 85,424 shares of the real estate investment trust’s stock valued at $917,000 after buying an additional 5,599 shares during the period. Wolverine Asset Management LLC increased its stake in shares of Sunstone Hotel Investors by 23.0% in the fourth quarter. Wolverine Asset Management LLC now owns 107,047 shares of the real estate investment trust’s stock valued at $1,149,000 after buying an additional 20,052 shares during the period. New York State Common Retirement Fund increased its stake in shares of Sunstone Hotel Investors by 1.7% in the fourth quarter. New York State Common Retirement Fund now owns 366,335 shares of the real estate investment trust’s stock valued at $3,931,000 after buying an additional 6,289 shares during the period. Finally, Illinois Municipal Retirement Fund increased its stake in shares of Sunstone Hotel Investors by 1.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 121,419 shares of the real estate investment trust’s stock valued at $1,303,000 after buying an additional 2,271 shares during the period. 99.37% of the stock is owned by institutional investors and hedge funds.

Sunstone Hotel Investors Price Performance

Shares of NYSE SHO opened at $10.19 on Friday. The stock has a market cap of $2.08 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 3.93 and a beta of 1.22. Sunstone Hotel Investors, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $11.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.03 and a current ratio of 7.03. The stock has a fifty day moving average of $10.84 and a 200-day moving average of $10.50.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.44. The company had revenue of $219.20 million during the quarter, compared to analysts’ expectations of $192.56 million. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. Equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Wednesday, March 27th. Sunstone Hotel Investors’s payout ratio is 27.96%.

Wall Street Analyst Weigh In

SHO has been the subject of several recent analyst reports. Truist Financial raised their target price on Sunstone Hotel Investors from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Thursday, March 14th. StockNews.com upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, Sunstone Hotel Investors presently has a consensus rating of “Hold” and a consensus price target of $10.00.

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.