Deutsche Bank AG purchased a new position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 273,354 shares of the real estate investment trust’s stock, valued at approximately $3,130,000.
A number of other hedge funds have also made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in Sunstone Hotel Investors in the fourth quarter worth about $26,000. North Star Investment Management Corp. bought a new stake in shares of Sunstone Hotel Investors during the 1st quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $47,000 after purchasing an additional 1,135 shares during the period. FIL Ltd boosted its position in shares of Sunstone Hotel Investors by 57.2% in the 4th 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 during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in Sunstone Hotel Investors during the 1st quarter worth about $91,000. Institutional investors and hedge funds own 99.37% of the company’s stock.
Sunstone Hotel Investors Stock Down 1.1%
SHO stock opened at $11.24 on Thursday. Sunstone Hotel Investors, Inc. has a 52-week low of $8.69 and a 52-week high of $12.07. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.84 and a quick ratio of 3.84. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 51.09, a price-to-earnings-growth ratio of 2.69 and a beta of 0.97. The company has a 50-day moving average of $11.43 and a two-hundred day moving average of $10.42.
Sunstone Hotel Investors Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 163.64%.
Insider Transactions at Sunstone Hotel Investors
In other news, insider Robert C. Springer sold 89,631 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $11.62, for a total transaction of $1,041,512.22. Following the completion of the transaction, the insider directly owned 573,743 shares of the company’s stock, valued at approximately $6,666,893.66. This trade represents a 13.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
SHO has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research downgraded shares of Sunstone Hotel Investors from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. upped their price target on shares of Sunstone Hotel Investors from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Wells Fargo & Company raised Sunstone Hotel Investors to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings upgraded Sunstone Hotel Investors from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.67.
View Our Latest Stock Analysis on Sunstone Hotel Investors
About Sunstone Hotel Investors
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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