Westpac Banking Corp grew its position in Sunstone Hotel Investors Inc (NYSE:SHO) by 71.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 650,648 shares of the real estate investment trust’s stock after purchasing an additional 271,865 shares during the period. Westpac Banking Corp owned approximately 0.29% of Sunstone Hotel Investors worth $10,755,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new stake in shares of Sunstone Hotel Investors in the fourth quarter valued at about $155,000. GSA Capital Partners LLP bought a new stake in shares of Sunstone Hotel Investors in the second quarter valued at about $243,000. Profund Advisors LLC lifted its holdings in shares of Sunstone Hotel Investors by 1.6% in the second quarter. Profund Advisors LLC now owns 16,650 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 257 shares in the last quarter. Breton Hill Capital Ltd. lifted its holdings in shares of Sunstone Hotel Investors by 27.5% in the third quarter. Breton Hill Capital Ltd. now owns 16,700 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Menta Capital LLC bought a new stake in shares of Sunstone Hotel Investors in the second quarter valued at about $308,000.
In related news, CFO Bryan Albert Giglia sold 18,426 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $16.73, for a total transaction of $308,266.98. Following the sale, the chief financial officer now owns 229,833 shares in the company, valued at $3,845,106.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.84% of the company’s stock.
A number of brokerages have recently commented on SHO. Boenning Scattergood restated a “hold” rating on shares of Sunstone Hotel Investors in a report on Wednesday, November 1st. Wells Fargo & Co restated a “market perform” rating and issued a $17.50 price target on shares of Sunstone Hotel Investors in a report on Tuesday, December 19th. FBR & Co restated a “hold” rating on shares of Sunstone Hotel Investors in a report on Tuesday, October 31st. Zacks Investment Research upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. Finally, Robert W. Baird restated a “hold” rating and issued a $17.00 price target on shares of Sunstone Hotel Investors in a report on Thursday, September 21st. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Sunstone Hotel Investors has a consensus rating of “Hold” and a consensus target price of $16.06.
Shares of Sunstone Hotel Investors Inc (NYSE:SHO) opened at $16.63 on Friday. Sunstone Hotel Investors Inc has a twelve month low of $14.15 and a twelve month high of $17.46. The stock has a market capitalization of $3,816.95, a PE ratio of 24.82, a P/E/G ratio of 2.79 and a beta of 1.11. The company has a current ratio of 4.76, a quick ratio of 4.75 and a debt-to-equity ratio of 0.40.
Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Monday, October 30th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.18. Sunstone Hotel Investors had a return on equity of 6.20% and a net margin of 13.78%. The business had revenue of $303.91 million for the quarter, compared to analyst estimates of $299.90 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. Sunstone Hotel Investors’s revenue was up .2% on a year-over-year basis. analysts expect that Sunstone Hotel Investors Inc will post 1.2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Sunday, December 31st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 13.95%. The ex-dividend date was Thursday, December 28th. This is a positive change from Sunstone Hotel Investors’s previous quarterly dividend of $0.05. Sunstone Hotel Investors’s dividend payout ratio is presently 346.27%.
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About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust (REIT). The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. The Company operates through hotel ownership segment.
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