State of New Jersey Common Pension Fund D Grows Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

State of New Jersey Common Pension Fund D grew its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 4.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,835 shares of the real estate investment trust’s stock after purchasing an additional 8,418 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.09% of Sunstone Hotel Investors worth $1,980,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SHO. EntryPoint Capital LLC purchased a new position in Sunstone Hotel Investors in the 1st quarter valued at approximately $30,000. Federated Hermes Inc. purchased a new position in shares of Sunstone Hotel Investors in the second quarter valued at $34,000. Quarry LP raised its stake in shares of Sunstone Hotel Investors by 584.1% during the 2nd quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 3,680 shares during the period. Plato Investment Management Ltd purchased a new stake in Sunstone Hotel Investors during the 1st quarter worth about $49,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Sunstone Hotel Investors during the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SHO has been the subject of several recent analyst reports. Wells Fargo & Company raised shares of 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. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have assigned 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.com, the stock presently has an average rating of “Hold” and an average price target of $11.42.

Sunstone Hotel Investors Stock Down 0.3 %

Shares of NYSE SHO opened at $10.10 on Friday. The stock has a market capitalization of $2.05 billion, a P/E ratio of 13.29, a PEG ratio of 6.56 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 3.75. Sunstone Hotel Investors, Inc. has a one year low of $9.39 and a one year high of $11.59. The firm’s 50 day simple moving average is $10.34 and its two-hundred day simple moving average is $10.25.

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

Sunstone Hotel Investors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 3.56%. Sunstone Hotel Investors’s payout ratio is 42.11%.

Sunstone Hotel Investors Company 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.