Metropolitan Life Insurance Co. NY boosted its holdings in Sunstone Hotel Investors Inc (NYSE:SHO) by 204.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,880 shares of the real estate investment trust’s stock after buying an additional 57,646 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Sunstone Hotel Investors were worth $1,117,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. PGGM Investments raised its position in shares of Sunstone Hotel Investors by 124.8% in the 4th quarter. PGGM Investments now owns 11,977,005 shares of the real estate investment trust’s stock valued at $155,821,000 after buying an additional 6,650,000 shares in the last quarter. Teachers Advisors LLC raised its position in Sunstone Hotel Investors by 0.7% in the third quarter. Teachers Advisors LLC now owns 2,383,592 shares of the real estate investment trust’s stock valued at $38,996,000 after purchasing an additional 17,224 shares during the period. American International Group Inc. raised its position in Sunstone Hotel Investors by 3.0% in the third quarter. American International Group Inc. now owns 151,453 shares of the real estate investment trust’s stock valued at $2,478,000 after purchasing an additional 4,446 shares during the period. Marshall Wace LLP purchased a new position in Sunstone Hotel Investors in the third quarter valued at about $358,000. Finally, Virginia Retirement Systems ET AL raised its position in Sunstone Hotel Investors by 37.7% in the fourth quarter. Virginia Retirement Systems ET AL now owns 135,400 shares of the real estate investment trust’s stock valued at $1,762,000 after purchasing an additional 37,100 shares during the period.
Several research firms have commented on SHO. Zacks Investment Research lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Deutsche Bank reissued a “hold” rating and issued a $16.00 price objective on shares of Sunstone Hotel Investors in a research report on Thursday, February 14th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.83.
Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. Sunstone Hotel Investors had a return on equity of 10.02% and a net margin of 21.61%. The business had revenue of $280.85 million for the quarter, compared to analyst estimates of $275.14 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts predict that Sunstone Hotel Investors Inc will post 1.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, March 28th. Sunstone Hotel Investors’s payout ratio is 17.09%.
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About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of February 12, 2019 has interests in 21 hotels comprised of 10,780 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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