State of Alaska Department of Revenue Increases Stake in Sunstone Hotel Investors Inc (NYSE:SHO)

State of Alaska Department of Revenue grew its position in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 244.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,606 shares of the real estate investment trust’s stock after buying an additional 45,161 shares during the quarter. State of Alaska Department of Revenue’s holdings in Sunstone Hotel Investors were worth $885,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Nuveen Asset Management LLC raised its position in Sunstone Hotel Investors by 33.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 7,595,524 shares of the real estate investment trust’s stock worth $104,134,000 after buying an additional 1,890,600 shares during the last quarter. Mackay Shields LLC raised its position in Sunstone Hotel Investors by 120.0% during the 3rd quarter. Mackay Shields LLC now owns 655,319 shares of the real estate investment trust’s stock worth $9,004,000 after buying an additional 357,498 shares during the last quarter. Millennium Management LLC raised its position in Sunstone Hotel Investors by 12,937.6% during the 3rd quarter. Millennium Management LLC now owns 3,095,780 shares of the real estate investment trust’s stock worth $42,536,000 after buying an additional 3,072,035 shares during the last quarter. California Public Employees Retirement System raised its position in Sunstone Hotel Investors by 20.5% during the 3rd quarter. California Public Employees Retirement System now owns 633,362 shares of the real estate investment trust’s stock worth $8,702,000 after buying an additional 107,897 shares during the last quarter. Finally, Green Street Investors LLC raised its position in Sunstone Hotel Investors by 15.3% during the 3rd quarter. Green Street Investors LLC now owns 258,900 shares of the real estate investment trust’s stock worth $3,557,000 after buying an additional 34,300 shares during the last quarter.

NYSE:SHO opened at $13.60 on Friday. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 0.41. Sunstone Hotel Investors Inc has a fifty-two week low of $12.54 and a fifty-two week high of $15.49. The stock has a market cap of $3.05 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03. The firm’s fifty day simple moving average is $13.91 and its 200-day simple moving average is $13.64.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.16). Sunstone Hotel Investors had a return on equity of 6.71% and a net margin of 15.10%. The company had revenue of $281.64 million for the quarter, compared to analyst estimates of $278.57 million. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts anticipate that Sunstone Hotel Investors Inc will post 1.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Monday, December 30th. This is a boost from Sunstone Hotel Investors’s previous quarterly dividend of $0.05. This represents a $2.28 dividend on an annualized basis and a dividend yield of 16.76%. Sunstone Hotel Investors’s dividend payout ratio is 201.71%.

A number of equities analysts have commented on SHO shares. Zacks Investment Research downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. ValuEngine raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lowered their price target on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, January 9th. Four investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $13.25.

Sunstone Hotel Investors Company 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 EstateĀ®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.

Featured Story: Bid-Ask Spread

Want to see what other hedge funds are holding SHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunstone Hotel Investors Inc (NYSE:SHO).

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

Receive News & Ratings for Sunstone Hotel Investors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunstone Hotel Investors and related companies with MarketBeat.com's FREE daily email newsletter.