Peregrine Capital Management LLC increased its position in Sunstone Hotel Investors Inc (NYSE:SHO) by 24.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 511,889 shares of the real estate investment trust’s stock after acquiring an additional 99,828 shares during the quarter. Peregrine Capital Management LLC owned about 0.24% of Sunstone Hotel Investors worth $4,172,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Pearl River Capital LLC purchased a new stake in Sunstone Hotel Investors in the 1st quarter worth approximately $69,000. Caxton Associates LP purchased a new stake in Sunstone Hotel Investors in the 1st quarter worth approximately $101,000. Ontario Teachers Pension Plan Board purchased a new stake in Sunstone Hotel Investors in the 1st quarter worth approximately $107,000. M&T Bank Corp purchased a new stake in Sunstone Hotel Investors during the 1st quarter valued at approximately $157,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in Sunstone Hotel Investors during the 1st quarter valued at approximately $168,000.
A number of equities research analysts have issued reports on the stock. Wells Fargo & Co cut their price objective on shares of Sunstone Hotel Investors from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Morgan Stanley raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $7.00 to $8.00 in a report on Wednesday. Zacks Investment Research raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Wednesday, June 24th. ValuEngine raised shares of Sunstone Hotel Investors from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. Finally, SunTrust Banks lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Friday, July 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.57.
In related news, Director W Blake Baird purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $7.18 per share, for a total transaction of $35,900.00. Following the completion of the transaction, the director now directly owns 44,857 shares in the company, valued at $322,073.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by company insiders.
NYSE SHO opened at $7.48 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.04 and a current ratio of 5.04. The company has a market capitalization of $1.61 billion, a P/E ratio of -27.70 and a beta of 1.08. Sunstone Hotel Investors Inc has a one year low of $5.75 and a one year high of $14.47. The stock has a 50 day moving average price of $8.10 and a 200-day moving average price of $9.67.
Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Friday, May 8th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.14). The company had revenue of $191.21 million during the quarter, compared to the consensus estimate of $209.65 million. Sunstone Hotel Investors had a negative return on equity of 1.69% and a negative net margin of 3.88%. The firm’s quarterly revenue was down 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. As a group, equities analysts predict that Sunstone Hotel Investors Inc will post -0.43 EPS for the current fiscal year.
Sunstone Hotel Investors Company 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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