Heritage Wealth Management LLC Takes $81,000 Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Heritage Wealth Management LLC purchased a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,805 shares of the real estate investment trust’s stock, valued at approximately $81,000.

A number of other large investors have also recently made changes to their positions in the business. Colony Group LLC boosted its holdings in Sunstone Hotel Investors by 0.5% in the 2nd quarter. Colony Group LLC now owns 198,785 shares of the real estate investment trust’s stock valued at $2,469,000 after purchasing an additional 940 shares during the period. Van ECK Associates Corp boosted its holdings in Sunstone Hotel Investors by 17.1% in the 3rd quarter. Van ECK Associates Corp now owns 10,152 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 1,483 shares during the period. Vident Investment Advisory LLC boosted its holdings in Sunstone Hotel Investors by 4.2% in the 2nd quarter. Vident Investment Advisory LLC now owns 44,394 shares of the real estate investment trust’s stock valued at $551,000 after purchasing an additional 1,796 shares during the period. Swiss National Bank boosted its holdings in Sunstone Hotel Investors by 0.5% in the 3rd quarter. Swiss National Bank now owns 477,749 shares of the real estate investment trust’s stock valued at $5,704,000 after purchasing an additional 2,500 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Sunstone Hotel Investors by 3.9% in the 2nd quarter. AQR Capital Management LLC now owns 69,352 shares of the real estate investment trust’s stock valued at $861,000 after purchasing an additional 2,594 shares during the period. 96.41% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on SHO. Truist raised their price objective on shares of Sunstone Hotel Investors from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, December 3rd. Truist Securities raised their price objective on shares of Sunstone Hotel Investors from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, December 3rd. Citigroup decreased their target price on shares of Sunstone Hotel Investors from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 6th. Zacks Investment Research upgraded shares of Sunstone Hotel Investors from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Friday, October 22nd. Finally, TheStreet raised shares of Sunstone Hotel Investors from a “d+” rating to a “c” rating in a report on Tuesday, November 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.57.

Shares of Sunstone Hotel Investors stock opened at $11.82 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.37. Sunstone Hotel Investors, Inc. has a 52-week low of $10.14 and a 52-week high of $13.91. The company has a 50-day simple moving average of $11.68 and a two-hundred day simple moving average of $11.82.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Thursday, November 4th. The real estate investment trust reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.21). Sunstone Hotel Investors had a negative net margin of 38.03% and a negative return on equity of 7.65%. The company had revenue of $167.42 million for the quarter, compared to analysts’ expectations of $158.88 million. During the same period in the previous year, the firm earned ($0.26) earnings per share. The firm’s revenue for the quarter was up 479.1% on a year-over-year basis. As a group, analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.07 earnings per share for the current fiscal year.

In other news, CEO Douglas M. Pasquale purchased 9,000 shares of the company’s stock in a transaction on Wednesday, December 15th. The stock was acquired at an average cost of $10.63 per share, for a total transaction of $95,670.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.49% of the stock is currently owned by corporate insiders.

Sunstone Hotel Investors Profile

Sunstone Hotel Investors, Inc is a real estate investment trust, which engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. It operates under the following brands: Marriott, Hilton, and Hyatt. The company was founded by Robert A. Alter in 1995 and is headquartered in Irvine, CA.

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Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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