Rhumbline Advisers cut its holdings in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 287,938 shares of the real estate investment trust’s stock after selling 7,071 shares during the period. Rhumbline Advisers owned about 0.13% of Sunstone Hotel Investors worth $4,711,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Sunstone Hotel Investors by 8.0% during the second quarter. BlackRock Inc. now owns 23,006,585 shares of the real estate investment trust’s stock worth $382,369,000 after purchasing an additional 1,702,618 shares during the last quarter. Centersquare Investment Management LLC lifted its stake in Sunstone Hotel Investors by 32.4% during the second quarter. Centersquare Investment Management LLC now owns 8,004,741 shares of the real estate investment trust’s stock worth $133,039,000 after purchasing an additional 1,957,744 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Sunstone Hotel Investors by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 7,075,684 shares of the real estate investment trust’s stock worth $115,759,000 after purchasing an additional 54,790 shares during the last quarter. Northern Trust Corp lifted its stake in Sunstone Hotel Investors by 3.2% during the second quarter. Northern Trust Corp now owns 6,208,413 shares of the real estate investment trust’s stock worth $103,184,000 after purchasing an additional 194,425 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its stake in shares of Sunstone Hotel Investors by 9.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 4,195,957 shares of the real estate investment trust’s stock valued at $68,646,000 after acquiring an additional 360,631 shares during the last quarter.
Shares of NYSE:SHO opened at $14.71 on Friday. The firm has a market cap of $3.42 billion, a P/E ratio of 13.03, a P/E/G ratio of 2.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.36 and a quick ratio of 6.35. Sunstone Hotel Investors Inc has a 12-month low of $13.67 and a 12-month high of $17.60.
Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Monday, November 5th. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.10. Sunstone Hotel Investors had a return on equity of 7.84% and a net margin of 16.56%. The business had revenue of $289.30 million during the quarter, compared to analyst estimates of $291.19 million. During the same period last year, the company earned $0.31 EPS. Sunstone Hotel Investors’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts expect that Sunstone Hotel Investors Inc will post 1.15 earnings per share for the current fiscal year.
SHO has been the subject of several analyst reports. Zacks Investment Research lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Wells Fargo & Co lowered their target price on Sunstone Hotel Investors from $17.50 to $16.00 and set a “market perform” rating for the company in a research report on Thursday, November 15th. Finally, Deutsche Bank set a $16.00 target price on Sunstone Hotel Investors and gave the stock a “hold” rating in a research report on Tuesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $17.00.
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Sunstone Hotel Investors Company Profile
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of November 5, 2018 has interests in 22 hotels comprised of 11,176 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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