NFJ Investment Group LLC Acquires Shares of 312,037 Sunstone Hotel Investors, Inc. (NYSE:SHO)

NFJ Investment Group LLC bought a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 312,037 shares of the real estate investment trust’s stock, valued at approximately $3,220,000.

A number of other institutional investors also recently modified their holdings of the business. New York State Teachers Retirement System boosted its stake in Sunstone Hotel Investors by 0.5% in the third quarter. New York State Teachers Retirement System now owns 294,316 shares of the real estate investment trust’s stock valued at $3,037,000 after buying an additional 1,386 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Sunstone Hotel Investors by 5.5% in the 2nd quarter. Van ECK Associates Corp now owns 31,119 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,635 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Sunstone Hotel Investors by 12.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 17,479 shares of the real estate investment trust’s stock valued at $184,000 after purchasing an additional 1,881 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Sunstone Hotel Investors by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 1,937 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in Sunstone Hotel Investors by 5.8% in the 2nd quarter. Diversified Trust Co now owns 36,571 shares of the real estate investment trust’s stock valued at $383,000 after purchasing an additional 2,018 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.42.

Sunstone Hotel Investors Stock Up 9.9 %

Shares of NYSE SHO opened at $11.84 on Wednesday. The company has a 50 day simple moving average of $10.39 and a 200 day simple moving average of $10.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. Sunstone Hotel Investors, Inc. has a 1 year low of $9.39 and a 1 year high of $12.19. The firm has a market cap of $2.38 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 5.70 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $226.40 million for the quarter, compared to the consensus estimate of $224.61 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. Sunstone Hotel Investors’s revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. On average, research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.04%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors’s payout ratio is presently 42.11%.

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.