Aaron Wealth Advisors LLC acquired a new stake in the shares of Sunstone Hotel Investors, Inc. (NYSE: SHO – Get Rating) in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The company acquired 9,306 shares of the REIT, valued at approximately $790,000.
A number of other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in Sunstone Hotel Investors by 15.1% during the first quarter. Van ECK Associates Corp now owns 19,500 shares of the real estate investment trust worth $230,000 after buying 2,554 additional shares in the last quarter. Principal Financial Group Inc. increased its stake in Sunstone Hotel Investors by 39.5% during the 1st quarter. Principal Financial Group Inc. now owns 8,228,650 shares of the real estate investment trust worth $96,934,000 after purchasing an additional 2,332,082 shares in the last quarter. The Swiss National Bank increased its stake in Sunstone Hotel Investors by 7.6% in the 1st quarter. The Swiss National Bank now owns 518,649 shares of the real estate investment trust worth $6,110,000 after buying an additional 36,700 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Sunstone Hotel Investors by 6.5% in Q1. Teacher Retirement System of Texas now owns 45,188 shares of the real estate investment trust worth $532,000 after buying 2,768 additional shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Sunstone Hotel Investors by 5.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 96,356 shares of the real estate investment trust worth $1,135,000 after purchasing an additional 4,724 shares in the last quarter.
Analysts set new price targets
A number of research analysts have commented on the company. StockNews.com upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a Tuesday, July 5 report. Truist Financial raised its price target on Sunstone Hotel Investors from $11.00 to $12.00 and gave the stock a “holding” rating in a Wednesday, June 1 report. Finally, Evercore ISI reaffirmed an “outperform” rating and set a target price of $13.00 on Sunstone Hotel Investors shares in a Monday, July 11 report. Two equity research analysts gave the stock a sell rating, four gave the company a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, Sunstone Hotel Investors currently has an average rating of “Hold” and a consensus target price of $12.57.
Sunstone Hotel investors trade down 3.8%
NYSE SHO shares opened at $11.75 on Friday. The company has a market capitalization of $2.49 billion, a price-earnings ratio of 17.28 and a beta of 1.24. Sunstone Hotel Investors, Inc. has a 12-month low of $9.30 and a 12-month high of $13.91. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt ratio of 0.44. The stock’s 50-day simple moving average is $10.59 and its 200-day simple moving average is $11.24.
Dividend announcement to Sunstone Hotel investors
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17. Investors of record on Friday, September 30 will receive a dividend of $0.05. This represents an annualized dividend of $0.20 and a dividend yield of 1.70%. The ex-dividend date is Thursday, September 29.
Sunstone Hotel Investor Profile
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Sunstone Hotel Investors, Inc. is a real estate investment trust (“REIT”) which, as of the date of this release, holds interests in 19 hotels comprising 9,997 rooms. Sunstone’s business is to acquire, own, manage assets and renovate or reposition hotels that are considered 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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