The Manufacturers Life Insurance Company Sells 26,721 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

The Manufacturers Life Insurance Company lowered its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,624,468 shares of the real estate investment trust’s stock after selling 26,721 shares during the period. The Manufacturers Life Insurance Company owned 1.29% of Sunstone Hotel Investors worth $27,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sunstone Hotel Investors by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,081,978 shares of the real estate investment trust’s stock worth $42,126,000 after buying an additional 117,390 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Sunstone Hotel Investors by 1.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,818,270 shares of the real estate investment trust’s stock worth $29,479,000 after purchasing an additional 51,203 shares in the last quarter. Millennium Management LLC boosted its holdings in Sunstone Hotel Investors by 368.0% in the 2nd quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock valued at $18,489,000 after purchasing an additional 1,389,917 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Sunstone Hotel Investors by 318.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,367,061 shares of the real estate investment trust’s stock worth $14,299,000 after purchasing an additional 1,039,986 shares in the last quarter. Finally, Tributary Capital Management LLC increased its holdings in shares of Sunstone Hotel Investors by 0.3% during the second quarter. Tributary Capital Management LLC now owns 1,333,353 shares of the real estate investment trust’s stock worth $13,947,000 after purchasing an additional 3,726 shares during the period. 99.37% of the stock is currently owned by institutional investors.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $10.75 on Friday. The firm’s fifty day moving average price is $10.39 and its two-hundred day moving average price is $10.26. The stock has a market cap of $2.16 billion, a PE ratio of 14.14, a PEG ratio of 5.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 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 $226.40 million during the quarter, compared to the consensus estimate of $224.61 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The business’s revenue was down 8.6% on a year-over-year basis. On average, equities analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors’s dividend payout ratio is presently 42.11%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target on the stock in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.42.

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.