Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Allstate Corp

Allstate Corp decreased its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 87.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,552 shares of the real estate investment trust’s stock after selling 71,870 shares during the period. Allstate Corp’s holdings in Sunstone Hotel Investors were worth $125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Heritage Family Offices LLP raised its holdings in Sunstone Hotel Investors by 7.2% in the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 969 shares in the last quarter. Vanderbilt University increased its position in shares of Sunstone Hotel Investors by 9.4% in the 4th quarter. Vanderbilt University now owns 14,808 shares of the real estate investment trust’s stock valued at $175,000 after purchasing an additional 1,276 shares during the last quarter. Xponance Inc. raised its holdings in shares of Sunstone Hotel Investors by 10.9% in the 4th quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust’s stock valued at $174,000 after purchasing an additional 1,441 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Sunstone Hotel Investors by 114.1% in the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,743 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Sunstone Hotel Investors by 0.6% during the 4th quarter. Swiss National Bank now owns 379,949 shares of the real estate investment trust’s stock worth $4,499,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Performance

Shares of SHO opened at $8.63 on Friday. The company’s 50 day simple moving average is $10.50 and its 200-day simple moving average is $10.85. The firm has a market cap of $1.74 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 4.52 and a beta of 1.19. Sunstone Hotel Investors, Inc. has a 12-month low of $8.58 and a 12-month high of $12.41. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The company had revenue of $214.77 million for the quarter, compared to analyst estimates of $211.17 million. As a group, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.36 annualized dividend and a dividend yield of 4.17%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 257.14%.

Wall Street Analyst Weigh In

SHO has been the topic of a number of analyst reports. Jefferies Financial Group raised their price target on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Morgan Stanley restated an “underweight” rating and set a $10.00 target price on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Wells Fargo & Company lowered their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, Truist Financial cut their price objective on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sunstone Hotel Investors has an average rating of “Hold” and an average target price of $11.57.

About Sunstone Hotel Investors

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.