Wolverine Asset Management LLC Has $1.15 Million Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Wolverine Asset Management LLC grew its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 23.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,047 shares of the real estate investment trust’s stock after acquiring an additional 20,052 shares during the quarter. Wolverine Asset Management LLC owned 0.05% of Sunstone Hotel Investors worth $1,149,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in shares of Sunstone Hotel Investors by 1.7% in the 4th quarter. New York State Common Retirement Fund now owns 366,335 shares of the real estate investment trust’s stock valued at $3,931,000 after buying an additional 6,289 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Sunstone Hotel Investors by 1.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 121,419 shares of the real estate investment trust’s stock valued at $1,303,000 after buying an additional 2,271 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sunstone Hotel Investors by 3.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,778 shares of the real estate investment trust’s stock valued at $888,000 after buying an additional 3,144 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Sunstone Hotel Investors by 5.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 235,223 shares of the real estate investment trust’s stock valued at $2,524,000 after buying an additional 12,133 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Sunstone Hotel Investors in the 4th quarter valued at approximately $1,103,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Trading Down 2.3 %

Shares of Sunstone Hotel Investors stock opened at $10.29 on Friday. The stock has a fifty day simple moving average of $10.95 and a 200 day simple moving average of $10.47. Sunstone Hotel Investors, Inc. has a 12-month low of $8.61 and a 12-month high of $11.59. The company has a market capitalization of $2.10 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 4.12 and a beta of 1.21. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.44. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The firm had revenue of $219.20 million for the quarter, compared to analysts’ expectations of $192.56 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current fiscal year.

Sunstone Hotel Investors Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.72%. Sunstone Hotel Investors’s dividend payout ratio is presently 27.96%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SHO shares. StockNews.com raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. Truist Financial raised their price target on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.00.

Sunstone Hotel Investors Profile

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.