Honeywell International Inc. Takes Position in Sunstone Hotel Investors Inc (NYSE:SHO)

Honeywell International Inc. purchased a new stake in shares of Sunstone Hotel Investors Inc (NYSE:SHO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 42,710 shares of the real estate investment trust’s stock, valued at approximately $586,000.

Several other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in Sunstone Hotel Investors by 3.0% during the fourth quarter. Bank of America Corp DE now owns 677,797 shares of the real estate investment trust’s stock worth $8,818,000 after buying an additional 19,552 shares during the last quarter. Millennium Management LLC boosted its stake in Sunstone Hotel Investors by 193.4% during the fourth quarter. Millennium Management LLC now owns 182,056 shares of the real estate investment trust’s stock worth $2,369,000 after buying an additional 119,996 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Sunstone Hotel Investors by 5.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 300,250 shares of the real estate investment trust’s stock worth $3,906,000 after buying an additional 15,124 shares during the last quarter. Norges Bank acquired a new position in Sunstone Hotel Investors during the fourth quarter worth $33,269,000. Finally, Geode Capital Management LLC boosted its stake in Sunstone Hotel Investors by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 3,485,508 shares of the real estate investment trust’s stock worth $45,346,000 after buying an additional 244,954 shares during the last quarter.

Shares of Sunstone Hotel Investors stock opened at $13.30 on Friday. Sunstone Hotel Investors Inc has a 52 week low of $12.54 and a 52 week high of $16.91. The company has a fifty day simple moving average of $13.50. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 2.03 and a beta of 1.05. The company has a current ratio of 7.05, a quick ratio of 7.05 and a debt-to-equity ratio of 0.42.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.15). The firm had revenue of $302.90 million during the quarter, compared to analysts’ expectations of $297.95 million. Sunstone Hotel Investors had a net margin of 20.15% and a return on equity of 9.13%. Sunstone Hotel Investors’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. On average, research analysts expect that Sunstone Hotel Investors Inc will post 1.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.50%. Sunstone Hotel Investors’s dividend payout ratio is presently 17.09%.

SHO has been the topic of a number of recent research reports. ValuEngine lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Friday, July 12th. Zacks Investment Research raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Co raised Sunstone Hotel Investors from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Thursday, June 27th. Wedbush raised Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th. Finally, Bank of America lowered Sunstone Hotel Investors from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $15.67.

Sunstone Hotel Investors Profile

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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Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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