Dynamic Technology Lab Private Ltd lifted its position in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 111.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,682 shares of the real estate investment trust’s stock after purchasing an additional 29,380 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Sunstone Hotel Investors were worth $802,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new position in Sunstone Hotel Investors in the 1st quarter valued at about $76,000. Hartford Investment Management Co. acquired a new position in Sunstone Hotel Investors in the 4th quarter valued at about $131,000. Oppenheimer & Co. Inc. acquired a new position in Sunstone Hotel Investors in the 4th quarter valued at about $135,000. Pearl River Capital LLC acquired a new position in Sunstone Hotel Investors in the 1st quarter valued at about $144,000. Finally, Nisa Investment Advisors LLC grew its stake in Sunstone Hotel Investors by 82.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 12,570 shares of the real estate investment trust’s stock valued at $181,000 after buying an additional 5,670 shares during the last quarter.
SHO has been the topic of a number of research reports. Wells Fargo & Co upgraded shares of Sunstone Hotel Investors from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a research note on Thursday. Zacks Investment Research downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. TheStreet downgraded shares of Sunstone Hotel Investors from a “b-” rating to a “c+” rating in a report on Friday, May 31st. Finally, Wedbush raised shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $16.50.
Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. The business had revenue of $257.68 million during the quarter, compared to analysts’ expectations of $256.64 million. Sunstone Hotel Investors had a net margin of 20.15% and a return on equity of 9.13%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. As a group, research analysts predict that Sunstone Hotel Investors Inc will post 1.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, June 27th. Sunstone Hotel Investors’s dividend payout ratio is 17.09%.
Sunstone Hotel Investors Profile
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of February 12, 2019 has interests in 21 hotels comprised of 10,780 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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