Westpac Banking Corp cut its stake in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 39.7% in the first quarter, Holdings Channel reports. The institutional investor owned 376,244 shares of the real estate investment trust’s stock after selling 247,404 shares during the quarter. Westpac Banking Corp’s holdings in Sunstone Hotel Investors were worth $5,418,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in SHO. Oppenheimer Asset Management Inc. purchased a new stake in Sunstone Hotel Investors during the 1st quarter valued at $76,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Sunstone Hotel Investors in the 4th quarter worth $135,000. Pearl River Capital LLC purchased a new stake in shares of Sunstone Hotel Investors in the 1st quarter worth $144,000. Nisa Investment Advisors LLC increased its stake in shares of Sunstone Hotel Investors by 82.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 12,570 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 5,670 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Sunstone Hotel Investors in the 1st quarter worth $185,000.
NYSE:SHO opened at $13.62 on Friday. The company has a quick ratio of 7.05, a current ratio of 7.05 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.11 billion, a PE ratio of 11.64, a P/E/G ratio of 2.11 and a beta of 1.11. Sunstone Hotel Investors Inc has a one year low of $12.70 and a one year high of $17.08.
Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $257.68 million during the quarter, compared to analyst estimates of $256.64 million. Sunstone Hotel Investors had a return on equity of 9.13% and a net margin of 20.15%. Sunstone Hotel Investors’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 EPS. Sell-side analysts expect that Sunstone Hotel Investors Inc will post 1.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.47%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 17.09%.
Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. TheStreet lowered Sunstone Hotel Investors from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Four equities research analysts have rated the stock with a hold rating, Sunstone Hotel Investors presently has an average rating of “Hold” and an average target price of $16.75.
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Sunstone Hotel Investors Profile
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of February 12, 2019 has interests in 21 hotels comprised of 10,780 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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