Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC lessened its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 26.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 164,189 shares of the real estate investment trust’s stock after selling 57,942 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.08% of Sunstone Hotel Investors worth $1,694,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SHO. EntryPoint Capital LLC purchased a new stake in shares of Sunstone Hotel Investors during the 1st quarter valued at about $30,000. Federated Hermes Inc. acquired a new position in Sunstone Hotel Investors in the second quarter valued at approximately $34,000. Quarry LP boosted its holdings in shares of Sunstone Hotel Investors by 584.1% during the second quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 3,680 shares during the period. Plato Investment Management Ltd bought a new position in Sunstone Hotel Investors in the 1st quarter worth about $49,000. Finally, 1620 Investment Advisors Inc. bought a new position in Sunstone Hotel Investors in the 2nd quarter worth approximately $52,000. 99.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SHO shares. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective on the stock in a research note on Friday, September 13th. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.42.

Sunstone Hotel Investors Stock Up 0.7 %

NYSE SHO opened at $10.89 on Tuesday. The stock has a market capitalization of $2.21 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 6.29 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 52 week low of $9.39 and a 52 week high of $11.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.75 and a current ratio of 3.75. The stock has a fifty day moving average of $10.32 and a 200-day moving average of $10.25.

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.