Maryland State Retirement & Pension System Has $801,000 Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Maryland State Retirement & Pension System lowered its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,667 shares of the real estate investment trust’s stock after selling 1,646 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sunstone Hotel Investors were worth $801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SHO. Rush Island Management LP boosted its stake in shares of Sunstone Hotel Investors by 30.3% during the third quarter. Rush Island Management LP now owns 9,579,732 shares of the real estate investment trust’s stock valued at $89,570,000 after purchasing an additional 2,225,579 shares in the last quarter. Tudor Investment Corp Et Al boosted its position in Sunstone Hotel Investors by 101.8% during the 3rd quarter. Tudor Investment Corp Et Al now owns 489,639 shares of the real estate investment trust’s stock worth $4,578,000 after buying an additional 247,058 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Sunstone Hotel Investors by 448.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 228,200 shares of the real estate investment trust’s stock worth $2,134,000 after acquiring an additional 186,600 shares during the last quarter. Panagora Asset Management Inc. increased its position in Sunstone Hotel Investors by 19.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 1,072,133 shares of the real estate investment trust’s stock valued at $10,024,000 after acquiring an additional 171,238 shares during the period. Finally, Tributary Capital Management LLC raised its stake in shares of Sunstone Hotel Investors by 11.9% during the fourth quarter. Tributary Capital Management LLC now owns 1,338,167 shares of the real estate investment trust’s stock valued at $14,359,000 after acquiring an additional 142,105 shares during the last quarter. Institutional investors own 99.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Compass Point raised shares of Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $10.00 to $12.00 in a research note on Tuesday. Truist Financial increased their price target on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, March 14th. Finally, StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Sunstone Hotel Investors Stock Performance

SHO stock opened at $10.36 on Friday. The firm has a market cap of $2.11 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $10.78 and a 200-day moving average price of $10.53. Sunstone Hotel Investors, Inc. has a 1-year low of $8.61 and a 1-year high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last issued its earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share for the quarter, topping 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 business had revenue of $219.20 million during the quarter, compared to the consensus estimate of $192.56 million. During the same period in the previous year, the company posted $0.26 earnings per share. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, equities research analysts expect that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Friday, June 28th. This is an increase from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. Sunstone Hotel Investors’s payout ratio is presently 27.96%.

Sunstone Hotel Investors Company 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.