Resona Asset Management Co. Ltd. Takes Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Resona Asset Management Co. Ltd. purchased a new stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 79,518 shares of the real estate investment trust’s stock, valued at approximately $952,000.

A number of other large investors have also made changes to their positions in SHO. Centersquare Investment Management LLC bought a new position in shares of Sunstone Hotel Investors during the 4th quarter valued at about $15,653,000. Pitcairn Co. increased its position in shares of Sunstone Hotel Investors by 9.2% during the fourth quarter. Pitcairn Co. now owns 31,473 shares of the real estate investment trust’s stock worth $373,000 after acquiring an additional 2,649 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in shares of Sunstone Hotel Investors by 9.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,242,045 shares of the real estate investment trust’s stock worth $14,706,000 after acquiring an additional 106,756 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Sunstone Hotel Investors by 6.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 271,125 shares of the real estate investment trust’s stock valued at $3,210,000 after acquiring an additional 17,225 shares in the last quarter. Finally, Norges Bank acquired a new position in Sunstone Hotel Investors in the 4th quarter worth $8,659,000. Institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Price Performance

NYSE:SHO opened at $8.15 on Friday. Sunstone Hotel Investors, Inc. has a 12-month low of $7.45 and a 12-month high of $12.41. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 4.52 and a beta of 1.16. The stock’s 50 day moving average price is $10.04 and its two-hundred day moving average price is $10.73. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The business had revenue of $214.77 million for the quarter, compared to analysts’ expectations of $211.17 million. On average, analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.09 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.36 annualized dividend and a yield of 4.42%. Sunstone Hotel Investors’s dividend payout ratio is currently 257.14%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $10.00 price objective on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Jefferies Financial Group lowered their price objective on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of 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 decreased their price objective on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating for the company in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.00.

Sunstone Hotel Investors Company 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.