William Blair Investment Management LLC bought a new stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO – Free Report) during the 2nd quarter, Holdings Channel reports. The firm bought 1,464,572 shares of the real estate investment trust’s stock, valued at approximately $16,769,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new position in shares of Sunstone Hotel Investors in the fourth quarter worth $26,000. North Star Investment Management Corp. acquired a new position in shares of Sunstone Hotel Investors during the first quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Sunstone Hotel Investors by 27.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,274 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,135 shares in the last quarter. FIL Ltd raised its stake in shares of Sunstone Hotel Investors by 57.2% during the fourth quarter. FIL Ltd now owns 9,010 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 3,280 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in Sunstone Hotel Investors in the second quarter worth about $88,000. Institutional investors and hedge funds own 99.37% of the company’s stock.
Sunstone Hotel Investors Trading Up 0.1%
Shares of Sunstone Hotel Investors stock opened at $11.29 on Friday. The business has a fifty day simple moving average of $11.46 and a 200-day simple moving average of $10.36. Sunstone Hotel Investors, Inc. has a fifty-two week low of $8.69 and a fifty-two week high of $12.07. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 51.32, a price-to-earnings-growth ratio of 2.67 and a beta of 0.97. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.59.
Sunstone Hotel Investors Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.36 annualized dividend and a dividend yield of 3.2%. Sunstone Hotel Investors’s payout ratio is currently 163.64%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on SHO shares. Citigroup increased their target price on shares of Sunstone Hotel Investors from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Sunstone Hotel Investors from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Zacks Research lowered shares of Sunstone Hotel Investors from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. increased their price objective on shares of Sunstone Hotel Investors from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, July 21st. Finally, Wells Fargo & Company upgraded shares of Sunstone Hotel Investors to a “strong-buy” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.67.
Read Our Latest Stock Report on SHO
Insider Activity
In related news, insider Robert C. Springer sold 89,631 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $11.62, for a total value of $1,041,512.22. Following the sale, the insider directly owned 573,743 shares in the company, valued at $6,666,893.66. The trade was a 13.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is owned by corporate insiders.
Sunstone Hotel Investors Profile
Sunstone Hotel Investors, Inc (NYSE:SHO) is a publicly traded real estate investment trust (REIT) focused on acquiring, owning and asset‐managing upper‐upscale extended‐stay and premium‐branded hotel properties in the United States. The company’s business model centers on generating stable, long‐term cash flows through franchise agreements and third‐party management contracts with established hotel operators.
As of the most recent reporting period, Sunstone’s portfolio includes approximately 97 hotels and nearly 25,000 guest rooms across 19 states, with concentrations in major metropolitan and select high‐growth secondary markets.
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