Heritage Wealth Management LLC Buys Shares of 15,161 Sunstone Hotel Investors, Inc. (NYSE:SHO)

Heritage Wealth Management LLC bought a new stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 15,161 shares of the real estate investment trust’s stock, valued at approximately $163,000.

Several other hedge funds have also recently added to or reduced their stakes in SHO. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Sunstone Hotel Investors during the third quarter worth about $342,000. Raymond James & Associates grew its holdings in shares of Sunstone Hotel Investors by 9.3% during the third quarter. Raymond James & Associates now owns 59,477 shares of the real estate investment trust’s stock worth $556,000 after buying an additional 5,063 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Sunstone Hotel Investors by 4.7% during the third quarter. Verdence Capital Advisors LLC now owns 26,216 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 1,167 shares in the last quarter. Clearview Wealth Advisors LLC purchased a new stake in shares of Sunstone Hotel Investors during the third quarter worth about $322,000. Finally, Panagora Asset Management Inc. grew its holdings in shares of Sunstone Hotel Investors by 19.0% during the third quarter. Panagora Asset Management Inc. now owns 1,072,133 shares of the real estate investment trust’s stock worth $10,024,000 after buying an additional 171,238 shares in the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Trading Up 1.4 %

Shares of SHO stock opened at $10.19 on Friday. The company has a quick ratio of 7.03, a current ratio of 7.03 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average price is $10.84 and its two-hundred day moving average price is $10.50. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 3.93 and a beta of 1.22. Sunstone Hotel Investors, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $11.59.

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

Sunstone Hotel Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.75%. The ex-dividend date was Wednesday, March 27th. Sunstone Hotel Investors’s payout ratio is currently 27.96%.

Analysts Set New Price Targets

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