Lazard Asset Management LLC cut its stake in Sunstone Hotel Investors (NYSE:SHO) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,178 shares of the real estate investment trust’s stock after selling 18,731 shares during the quarter. Lazard Asset Management LLC’s holdings in Sunstone Hotel Investors were worth $1,457,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Nisa Investment Advisors LLC acquired a new stake in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $155,000. Lourd Capital LLC acquired a new stake in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $204,000. Breton Hill Capital Ltd. boosted its holdings in shares of Sunstone Hotel Investors by 27.5% in the 3rd quarter. Breton Hill Capital Ltd. now owns 16,700 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 3,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sunstone Hotel Investors by 23.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,655 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 3,757 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Sunstone Hotel Investors in the 3rd quarter valued at $364,000.
A number of equities research analysts recently weighed in on SHO shares. Robert W. Baird set a $17.00 price objective on Sunstone Hotel Investors and gave the stock a “hold” rating in a research report on Wednesday, February 14th. B. Riley set a $16.00 target price on Sunstone Hotel Investors and gave the stock a “hold” rating in a report on Monday, February 12th. Raymond James Financial reissued a “market perform” rating on shares of Sunstone Hotel Investors in a report on Monday, January 8th. Wells Fargo reissued a “market perform” rating and set a $17.50 target price on shares of Sunstone Hotel Investors in a report on Tuesday, December 19th. Finally, Boenning Scattergood raised Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a report on Wednesday, February 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Sunstone Hotel Investors presently has an average rating of “Hold” and a consensus price target of $15.93.
Shares of Sunstone Hotel Investors stock traded down $0.17 on Monday, hitting $14.95. The stock had a trading volume of 620,611 shares, compared to its average volume of 2,025,817. Sunstone Hotel Investors has a 52 week low of $14.09 and a 52 week high of $17.46. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3,406.86, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 2.69 and a beta of 1.16.
Sunstone Hotel Investors (NYSE:SHO) last issued its earnings results on Monday, February 12th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.19). The business had revenue of $290.19 million during the quarter, compared to the consensus estimate of $284.59 million. Sunstone Hotel Investors had a return on equity of 5.56% and a net margin of 12.53%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 earnings per share. research analysts predict that Sunstone Hotel Investors will post 1.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.34%. Sunstone Hotel Investors’s payout ratio is 386.67%.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of February 12, 2018 has interests in 25 hotels comprised of 12,450 rooms. Sunstone's hotels are primarily in the urban and resort upper upscale segment and are predominantly operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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