Sunstone Hotel Investors Inc (NYSE:SHO) Shares Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC raised its stake in Sunstone Hotel Investors Inc (NYSE:SHO) by 24.2% in the second quarter, HoldingsChannel reports. The fund owned 511,889 shares of the real estate investment trust’s stock after purchasing an additional 99,828 shares during the period. Peregrine Capital Management LLC’s holdings in Sunstone Hotel Investors were worth $4,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in SHO. Centersquare Investment Management LLC acquired a new position in Sunstone Hotel Investors in the first quarter valued at approximately $34,606,000. Invesco Ltd. increased its position in shares of Sunstone Hotel Investors by 61.1% in the first quarter. Invesco Ltd. now owns 10,423,654 shares of the real estate investment trust’s stock valued at $90,791,000 after buying an additional 3,953,137 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Sunstone Hotel Investors by 889.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,918,350 shares of the real estate investment trust’s stock valued at $34,129,000 after buying an additional 3,522,340 shares in the last quarter. APG Asset Management US Inc. purchased a new stake in shares of Sunstone Hotel Investors in the first quarter valued at approximately $30,050,000. Finally, Norges Bank purchased a new stake in shares of Sunstone Hotel Investors in the fourth quarter valued at approximately $43,215,000.

In other Sunstone Hotel Investors news, Director W Blake Baird purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $7.18 per share, with a total value of $35,900.00. Following the purchase, the director now directly owns 44,857 shares in the company, valued at approximately $322,073.26. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Wednesday, June 24th. Deutsche Bank reiterated a “hold” rating and set a $10.00 price target (down from $11.00) on shares of Sunstone Hotel Investors in a research report on Tuesday, May 19th. SunTrust Banks cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Friday, July 24th. Morgan Stanley upgraded Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $7.00 to $8.00 in a research report on Wednesday. Finally, Wells Fargo & Co dropped their price target on Sunstone Hotel Investors from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $9.57.

Shares of NYSE:SHO opened at $7.48 on Friday. The company has a quick ratio of 5.04, a current ratio of 5.04 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $8.10 and a two-hundred day moving average of $9.67. The stock has a market cap of $1.61 billion, a P/E ratio of -27.70 and a beta of 1.08. Sunstone Hotel Investors Inc has a 52-week low of $5.75 and a 52-week high of $14.47.

Sunstone Hotel Investors (NYSE:SHO) last issued its earnings results on Friday, May 8th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.14). The company had revenue of $191.21 million during the quarter, compared to analysts’ expectations of $209.65 million. Sunstone Hotel Investors had a negative net margin of 3.88% and a negative return on equity of 1.69%. The firm’s quarterly revenue was down 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, equities analysts anticipate that Sunstone Hotel Investors Inc will post -0.43 earnings per share for the current year.

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 EstateĀ®, 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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