The Manufacturers Life Insurance Company Sells 26,721 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,624,468 shares of the real estate investment trust’s stock after selling 26,721 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sunstone Hotel Investors were worth $27,085,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SHO. New York State Teachers Retirement System boosted its stake in Sunstone Hotel Investors by 0.5% during the third quarter. New York State Teachers Retirement System now owns 294,316 shares of the real estate investment trust’s stock worth $3,037,000 after acquiring an additional 1,386 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Sunstone Hotel Investors by 5.5% during the 2nd quarter. Van ECK Associates Corp now owns 31,119 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 1,635 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Sunstone Hotel Investors by 12.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 17,479 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 1,881 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Sunstone Hotel Investors by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 1,937 shares in the last quarter. Finally, Diversified Trust Co raised its stake in Sunstone Hotel Investors by 5.8% during the 2nd quarter. Diversified Trust Co now owns 36,571 shares of the real estate investment trust’s stock worth $383,000 after buying an additional 2,018 shares during the period. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Price Performance

Shares of NYSE SHO opened at $10.75 on Friday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 5.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $11.59. The firm’s 50-day simple moving average is $10.39 and its 200 day simple moving average is $10.26.

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

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 annualized dividend and a dividend yield of 3.35%. Sunstone Hotel Investors’s payout ratio is 42.11%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective for the company in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.42.

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.