The State Board of Administration of Florida Retirement System reduced its position in Sunstone Hotel Investors, Inc. (NYSE: SHO – Get Rating) by 7.0% in Q1, according to its latest Form 13F filed with the Securities and Exchange Commission (DRY ). The institutional investor held 250,344 shares of the REIT after selling 18,813 shares during the quarter. The Florida Retirement System State Board of Directors held 0.11% of Sunstone Hotel Investors worth $2,949,000 when it last filed with the SEC.
Other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. CWM LLC increased its stake in Sunstone Hotel Investors by 431.9% in the first quarter. CWM LLC now owns 2,521 shares of the real estate investment trust worth $30,000 after purchasing an additional 2,047 shares in the last quarter. UMB Bank NA MO bought a new position in Sunstone Hotel Investors in the fourth quarter, valued at around $31,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Sunstone Hotel Investors by 53.8% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,972 shares of the real estate investment trust worth $48,000 after purchasing an additional 1,390 shares in the last quarter. Pinebridge Investments LP acquired a new position in Sunstone Hotel Investors in the fourth quarter, valued at around $50,000. Finally, FourThought Financial LLC increased its stake in Sunstone Hotel Investors by 19.4% in the first quarter. FourThought Financial LLC now owns 7,553 shares of the real estate investment trust worth $89,000 after purchasing an additional 1,226 shares in the last quarter.
Sunstone Hotel investors gain 1.1%
Shares of Sunstone Hotel Investors opened at $11.81 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a leverage ratio of 0.44. Sunstone Hotel Investors, Inc. has a 52-week low of $9.30 and a 52-week high of $13.91. The company has a market capitalization of $2.51 billion, a price-earnings ratio of 17.37 and a beta of 1.24. The stock has a 50-day moving average price of $10.60 and a 200-day moving average price of $11.20.
Sunstone Hotel Investors Announces Dividend
The company also recently announced 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 per share. This represents a dividend of $0.20 on an annualized basis and a dividend yield of 1.69%. The ex-date of this dividend is Thursday, September 29.
Analysts set new price targets
Several stock analysts have published reports on the company. StockNews.com upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a Tuesday, July 5 research note. Evercore ISI restated an “outperform” rating and set a price target of $13.00 on Sunstone Hotel Investors shares in a Monday, July 11 research note. Finally, 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 research note. Two equity research analysts gave the stock a sell rating, four issued a hold rating and two gave the company’s stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.57.
Sunstone Hotel Investors Company Profile
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Sunstone Hotel Investors, Inc. is a real estate investment trust (“REIT”) which, as of the date of this release, owns 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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