Public Employees Retirement System of Ohio Buys 46,402 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Public Employees Retirement System of Ohio boosted its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 610,149 shares of the real estate investment trust’s stock after acquiring an additional 46,402 shares during the period. Public Employees Retirement System of Ohio’s holdings in Sunstone Hotel Investors were worth $6,297,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Sunstone Hotel Investors by 11.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust’s stock valued at $11,566,000 after purchasing an additional 116,058 shares during the period. Intech Investment Management LLC purchased a new stake in Sunstone Hotel Investors in the 3rd quarter worth $573,000. American Century Companies Inc. raised its holdings in Sunstone Hotel Investors by 170.5% during the second quarter. American Century Companies Inc. now owns 199,580 shares of the real estate investment trust’s stock valued at $2,088,000 after acquiring an additional 125,809 shares during the period. NFJ Investment Group LLC purchased a new position in shares of Sunstone Hotel Investors in the third quarter valued at about $3,220,000. Finally, Miller Howard Investments Inc. NY bought a new position in shares of Sunstone Hotel Investors in the second quarter worth about $303,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Trading Down 0.3 %

Shares of SHO stock opened at $12.21 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 6.46 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 12-month low of $9.39 and a 12-month high of $12.35. The stock’s 50-day moving average price is $10.69 and its 200-day moving average price is $10.38.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $226.40 million during the quarter, compared to the consensus estimate of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. Equities research analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 2.95%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 44.74%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lifted their target price on Sunstone Hotel Investors from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. One investment 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 stock. According to data from MarketBeat.com, Sunstone Hotel Investors has a consensus rating of “Hold” and an average target price of $11.83.

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.