Raymond James & Associates Has $836,000 Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Raymond James & Associates lifted its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 31.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,920 shares of the real estate investment trust’s stock after acquiring an additional 18,443 shares during the quarter. Raymond James & Associates’ holdings in Sunstone Hotel Investors were worth $836,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. SG Americas Securities LLC lifted its position in Sunstone Hotel Investors by 1,572.2% during the 3rd quarter. SG Americas Securities LLC now owns 373,064 shares of the real estate investment trust’s stock valued at $3,488,000 after purchasing an additional 350,754 shares during the period. Index Fund Advisors Inc. boosted its stake in Sunstone Hotel Investors by 0.5% in the third quarter. Index Fund Advisors Inc. now owns 343,929 shares of the real estate investment trust’s stock valued at $3,216,000 after acquiring an additional 1,664 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Sunstone Hotel Investors during the 3rd quarter worth $342,000. Vert Asset Management LLC raised its position in shares of Sunstone Hotel Investors by 13.1% during the 3rd quarter. Vert Asset Management LLC now owns 82,270 shares of the real estate investment trust’s stock valued at $769,000 after acquiring an additional 9,524 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Sunstone Hotel Investors by 4.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 26,216 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 1,167 shares during the period. Institutional investors and hedge funds own 99.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. StockNews.com raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Truist Financial upped their price target on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Sunstone Hotel Investors Stock Performance

SHO stock opened at $10.39 on Tuesday. Sunstone Hotel Investors, Inc. has a 1-year low of $8.61 and a 1-year high of $11.59. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.12 billion, a PE ratio of 11.17, a P/E/G ratio of 3.98 and a beta of 1.21. The business’s 50-day moving average price is $10.96 and its two-hundred day moving average price is $10.46.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.44. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The business had revenue of $219.20 million for the quarter, compared to analysts’ expectations of $192.56 million. During the same quarter in the previous year, the business posted $0.26 EPS. Sunstone Hotel Investors’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio is 27.96%.

Sunstone Hotel Investors 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.