Prudential Financial Inc. decreased its position in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 98.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,455 shares of the real estate investment trust’s stock after selling 2,202,534 shares during the period. Prudential Financial Inc.’s holdings in Sunstone Hotel Investors were worth $344,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. PGGM Investments grew its position in Sunstone Hotel Investors by 124.8% in the fourth quarter. PGGM Investments now owns 11,977,005 shares of the real estate investment trust’s stock valued at $155,821,000 after acquiring an additional 6,650,000 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Sunstone Hotel Investors by 0.7% during 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 in the last quarter. American International Group Inc. boosted its stake in shares of Sunstone Hotel Investors by 3.0% during 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 in the last quarter. Marshall Wace LLP acquired a new stake in shares of Sunstone Hotel Investors during the third quarter valued at about $358,000. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of Sunstone Hotel Investors by 37.7% during 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 in the last quarter.
Shares of SHO stock traded up $0.16 during mid-day trading on Friday, reaching $14.66. 1,019,716 shares of the stock traded hands, compared to its average volume of 2,221,924. Sunstone Hotel Investors Inc has a 1-year low of $12.70 and a 1-year high of $17.60. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.28 and a beta of 1.14. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 0.40.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, March 28th. Sunstone Hotel Investors’s dividend payout ratio is currently 17.09%.
A number of analysts have recently commented on SHO shares. Zacks Investment Research lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. Deutsche Bank reissued a “hold” rating and set a $16.00 price target on shares of Sunstone Hotel Investors in a research note on Thursday, February 14th. Six analysts have rated the stock with a hold rating and one has given 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.
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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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