Citigroup Inc. grew its holdings in Sunstone Hotel Investors Inc (NYSE:SHO) by 38.7% during the 1st quarter, Holdings Channel reports. The firm owned 236,759 shares of the real estate investment trust’s stock after buying an additional 66,026 shares during the period. Citigroup Inc.’s holdings in Sunstone Hotel Investors were worth $3,409,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in SHO. Alpha Windward LLC raised its stake in Sunstone Hotel Investors by 2.4% during the first quarter. Alpha Windward LLC now owns 33,614 shares of the real estate investment trust’s stock worth $484,000 after purchasing an additional 780 shares during the period. ClariVest Asset Management LLC raised its stake in Sunstone Hotel Investors by 0.8% during the fourth quarter. ClariVest Asset Management LLC now owns 107,100 shares of the real estate investment trust’s stock worth $1,394,000 after purchasing an additional 900 shares during the period. Brinker Capital Inc. raised its stake in Sunstone Hotel Investors by 10.5% during the first quarter. Brinker Capital Inc. now owns 14,300 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 1,360 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Sunstone Hotel Investors by 3.6% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,376 shares of the real estate investment trust’s stock worth $519,000 after purchasing an additional 1,399 shares during the period. Finally, Utah Retirement Systems raised its stake in Sunstone Hotel Investors by 7.5% during the fourth quarter. Utah Retirement Systems now owns 22,886 shares of the real estate investment trust’s stock worth $298,000 after purchasing an additional 1,600 shares during the period.
Shares of SHO stock opened at $13.80 on Wednesday. Sunstone Hotel Investors Inc has a 52 week low of $12.70 and a 52 week high of $17.08. The company has a current ratio of 7.05, a quick ratio of 7.05 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.11 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, June 27th. Sunstone Hotel Investors’s dividend payout ratio is presently 17.09%.
A number of brokerages have recently commented on SHO. TheStreet downgraded shares of Sunstone Hotel Investors from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Zacks Investment Research raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $16.75.
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Sunstone Hotel Investors Profile
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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