Nomura Asset Management Co. Ltd. increased its holdings in Sunstone Hotel Investors (NYSE:SHO) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,906 shares of the real estate investment trust’s stock after purchasing an additional 9,556 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.06% of Sunstone Hotel Investors worth $2,330,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of SHO. AMP Capital Investors Ltd lifted its position in shares of Sunstone Hotel Investors by 80.7% during the fourth quarter. AMP Capital Investors Ltd now owns 66,798 shares of the real estate investment trust’s stock valued at $1,104,000 after buying an additional 29,835 shares during the last quarter. Koch Industries Inc. purchased a new position in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $212,000. Invictus RG purchased a new position in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $398,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $1,621,000. Finally, AXA raised its position in shares of Sunstone Hotel Investors by 29.5% in the 4th quarter. AXA now owns 543,951 shares of the real estate investment trust’s stock valued at $8,991,000 after purchasing an additional 123,770 shares during the last quarter.
Shares of NYSE:SHO traded down $0.17 during midday trading on Friday, reaching $14.83. 2,197,940 shares of the company’s stock traded hands, compared to its average volume of 1,998,728. Sunstone Hotel Investors has a 1 year low of $14.09 and a 1 year high of $17.46. The firm has a market capitalization of $3,379.82, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 2.67 and a beta of 1.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.00 and a quick ratio of 3.00.
Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.19). The firm had revenue of $290.19 million during the quarter, compared to analysts’ expectations of $284.59 million. Sunstone Hotel Investors had a net margin of 12.53% and a return on equity of 5.56%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. sell-side analysts expect that Sunstone Hotel Investors will post 1.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.35%. Sunstone Hotel Investors’s payout ratio is currently 16.39%.
SHO has been the subject of several research analyst reports. Wells Fargo reaffirmed a “market perform” rating and issued a $17.50 price objective on shares of Sunstone Hotel Investors in a research report on Tuesday, December 19th. Boenning Scattergood upgraded shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a report on Wednesday, February 21st. Robert W. Baird set a $17.00 price target on shares of Sunstone Hotel Investors and gave the stock a “hold” rating in a report on Wednesday, February 14th. Raymond James Financial reiterated a “market perform” rating on shares of Sunstone Hotel Investors in a report on Monday, January 8th. Finally, B. Riley set a $16.00 price target on shares of Sunstone Hotel Investors and gave the stock a “hold” rating in a report on Monday, February 12th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Sunstone Hotel Investors currently has a consensus rating of “Hold” and an average target price of $15.93.
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About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of February 12, 2018 has interests in 25 hotels comprised of 12,450 rooms. Sunstone's hotels are primarily in the urban and resort upper upscale segment and are predominantly operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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