Resona Asset Management Co. Ltd. Sells 6,604 Shares of Sunstone Hotel Investors, Inc. $SHO

Resona Asset Management Co. Ltd. trimmed its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 7.6% during the second quarter, Holdings Channel reports. The firm owned 80,781 shares of the real estate investment trust’s stock after selling 6,604 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Sunstone Hotel Investors were worth $719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its stake in Sunstone Hotel Investors by 951.7% in the second quarter. Hantz Financial Services Inc. now owns 3,008 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 2,722 shares during the period. Assetmark Inc. increased its stake in shares of Sunstone Hotel Investors by 210.4% in the 2nd quarter. Assetmark Inc. now owns 3,635 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 2,464 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Sunstone Hotel Investors by 62.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 4,882 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,881 shares during the period. GAMMA Investing LLC boosted its stake in Sunstone Hotel Investors by 33.0% during the second quarter. GAMMA Investing LLC now owns 6,426 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 1,595 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Sunstone Hotel Investors by 46.8% in the second quarter. Blue Trust Inc. now owns 6,544 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 2,087 shares during the period. Institutional investors own 99.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SHO shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sunstone Hotel Investors in a report on Wednesday, October 8th. Evercore ISI raised their price objective on Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Truist Financial decreased their price objective on Sunstone Hotel Investors from $11.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. Wall Street Zen lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Wells Fargo & Company raised shares of Sunstone Hotel Investors to a “hold” rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.93.

Sunstone Hotel Investors Stock Performance

Shares of SHO opened at $9.58 on Wednesday. The firm has a market capitalization of $1.82 billion, a P/E ratio of 479.24, a P/E/G ratio of 5.32 and a beta of 1.28. Sunstone Hotel Investors, Inc. has a 52 week low of $7.45 and a 52 week high of $12.41. The stock has a 50 day moving average price of $9.35 and a two-hundred day moving average price of $9.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.73 and a current ratio of 2.73.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Friday, November 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The company had revenue of $229.32 million for the quarter, compared to analysts’ expectations of $226.05 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Sunstone Hotel Investors’s quarterly revenue was up 1.3% on a year-over-year basis. Sunstone Hotel Investors has set its FY 2025 guidance at 0.800-0.870 EPS. Equities analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st.

Sunstone Hotel Investors Company 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.