2,557,250 Shares in Sunstone Hotel Investors Inc (SHO) Acquired by Norges Bank

Norges Bank acquired a new stake in Sunstone Hotel Investors Inc (NYSE:SHO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,557,250 shares of the real estate investment trust’s stock, valued at approximately $33,269,000. Norges Bank owned 1.12% of Sunstone Hotel Investors at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. ClariVest Asset Management LLC raised its holdings in shares of Sunstone Hotel Investors by 0.8% in the 4th quarter. ClariVest Asset Management LLC now owns 107,100 shares of the real estate investment trust’s stock valued at $1,394,000 after buying an additional 900 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Sunstone Hotel Investors by 1.8% in the 4th quarter. State of Alaska Department of Revenue now owns 74,433 shares of the real estate investment trust’s stock valued at $967,000 after buying an additional 1,340 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Sunstone Hotel Investors by 3.6% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,376 shares of the real estate investment trust’s stock valued at $519,000 after buying an additional 1,399 shares during the period. Utah Retirement Systems raised its holdings in shares of Sunstone Hotel Investors by 7.5% in the 4th quarter. Utah Retirement Systems now owns 22,886 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 1,600 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Sunstone Hotel Investors by 2.7% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 146,800 shares of the real estate investment trust’s stock valued at $1,910,000 after buying an additional 3,800 shares during the period.

Shares of NYSE SHO opened at $14.76 on Wednesday. The company has a current ratio of 3.90, a quick ratio of 3.90 and a debt-to-equity ratio of 0.40. Sunstone Hotel Investors Inc has a 1-year low of $12.70 and a 1-year high of $17.60. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 2.31 and a beta of 1.14.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Sunstone Hotel Investors had a return on equity of 10.02% and a net margin of 21.61%. The company had revenue of $280.85 million for the quarter, compared to the consensus estimate of $275.14 million. During the same quarter in the prior year, the business earned $0.28 EPS. Sunstone Hotel Investors’s revenue was down 3.2% on a year-over-year basis. On average, research analysts expect that Sunstone Hotel Investors Inc will post 1.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.20 annualized dividend and a yield of 1.36%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 17.09%.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Thursday, February 21st. Deutsche Bank restated a “hold” rating and set a $16.00 price target on shares of Sunstone Hotel Investors in a report on Thursday, February 14th. Finally, Barclays downgraded Sunstone Hotel Investors from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $18.00 to $16.00 in a report on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target 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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Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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