Long Pond Capital LP Takes Position in Sunstone Hotel Investors Inc (NYSE:SHO)

Long Pond Capital LP acquired a new stake in shares of Sunstone Hotel Investors Inc (NYSE:SHO) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 2,942,621 shares of the real estate investment trust’s stock, valued at approximately $40,343,000. Sunstone Hotel Investors accounts for approximately 1.2% of Long Pond Capital LP’s investment portfolio, making the stock its 20th largest position.

Several other large investors have also bought and sold shares of SHO. Profund Advisors LLC lifted its stake in Sunstone Hotel Investors by 18.3% during the second quarter. Profund Advisors LLC now owns 20,094 shares of the real estate investment trust’s stock valued at $275,000 after buying an additional 3,104 shares in the last quarter. Teachers Insurance & Annuity Association of America lifted its stake in Sunstone Hotel Investors by 101.1% during the second quarter. Teachers Insurance & Annuity Association of America now owns 424,419 shares of the real estate investment trust’s stock valued at $5,818,000 after buying an additional 213,335 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Sunstone Hotel Investors by 13.8% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,981,700 shares of the real estate investment trust’s stock valued at $27,169,000 after buying an additional 240,100 shares in the last quarter. Pictet Asset Management Ltd. lifted its stake in Sunstone Hotel Investors by 16.0% during the second quarter. Pictet Asset Management Ltd. now owns 43,600 shares of the real estate investment trust’s stock valued at $598,000 after buying an additional 6,000 shares in the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in Sunstone Hotel Investors by 69.4% during the second quarter. Commonwealth Bank of Australia now owns 28,800 shares of the real estate investment trust’s stock valued at $394,000 after buying an additional 11,800 shares in the last quarter.

SHO stock opened at $13.67 on Friday. The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt-to-equity ratio of 0.41. Sunstone Hotel Investors Inc has a one year low of $12.54 and a one year high of $16.77. The firm has a market capitalization of $3.07 billion, a PE ratio of 11.68, a P/E/G ratio of 2.07 and a beta of 1.05. The firm has a 50-day moving average of $13.22 and a two-hundred day moving average of $13.96.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.15). The firm had revenue of $302.90 million for the quarter, compared to analysts’ expectations of $297.95 million. Sunstone Hotel Investors had a net margin of 20.14% and a return on equity of 8.97%. Sunstone Hotel Investors’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share. On average, equities research analysts anticipate that Sunstone Hotel Investors Inc will post 1.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Friday, September 27th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 17.09%.

A number of analysts have commented on the stock. Deutsche Bank set a $15.00 price objective on shares of Sunstone Hotel Investors and gave the company a “hold” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, September 6th. Wedbush raised shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th. TheStreet lowered shares of Sunstone Hotel Investors from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Finally, Zacks Investment Research raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.25.

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.

Further Reading: Front-End Load

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Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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