Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Bought by Wolverine Asset Management LLC

Wolverine Asset Management LLC increased its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 23.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 107,047 shares of the real estate investment trust’s stock after purchasing an additional 20,052 shares during the quarter. Wolverine Asset Management LLC’s holdings in Sunstone Hotel Investors were worth $1,149,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Fox Run Management L.L.C. purchased a new position in Sunstone Hotel Investors in the third quarter valued at about $101,000. Versor Investments LP bought a new position in Sunstone Hotel Investors during the 3rd quarter worth approximately $112,000. Evergreen Capital Management LLC bought a new position in Sunstone Hotel Investors during the 3rd quarter worth approximately $127,000. Envestnet Portfolio Solutions Inc. bought a new position in Sunstone Hotel Investors during the 3rd quarter worth approximately $152,000. Finally, ProVise Management Group LLC bought a new position in Sunstone Hotel Investors during the 3rd quarter worth approximately $162,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Down 2.3 %

Shares of SHO opened at $10.29 on Friday. The company has a market capitalization of $2.10 billion, a P/E ratio of 11.06, a PEG ratio of 4.12 and a beta of 1.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03. Sunstone Hotel Investors, Inc. has a one year low of $8.61 and a one year high of $11.59. The business’s 50 day simple moving average is $10.95 and its 200-day simple moving average is $10.47.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $219.20 million for the quarter, compared to the consensus estimate of $192.56 million. During the same quarter in the prior year, the business earned $0.26 EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. As a group, sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.85 EPS for the current fiscal year.

Sunstone Hotel Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 2.72%. The ex-dividend date was Wednesday, March 27th. Sunstone Hotel Investors’s payout ratio is 27.96%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Truist Financial boosted 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 research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.00.

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.