Sunstone Hotel Investors Inc (SHO) Shares Bought by Millennium Management LLC
Millennium Management LLC grew its holdings in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 193.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 182,056 shares of the real estate investment trust’s stock after buying an additional 119,996 shares during the period. Millennium Management LLC’s holdings in Sunstone Hotel Investors were worth $2,369,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the business. Thrivent Financial for Lutherans boosted its holdings in shares of Sunstone Hotel Investors by 131.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 216,331 shares of the real estate investment trust’s stock worth $2,814,000 after buying an additional 123,000 shares in the last quarter. Zimmer Partners LP acquired a new position in shares of Sunstone Hotel Investors during the fourth quarter worth approximately $474,000. Metropolitan Life Insurance Co. NY raised its position in shares of Sunstone Hotel Investors by 204.2% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 85,880 shares of the real estate investment trust’s stock worth $1,117,000 after purchasing an additional 57,646 shares during the period. Nuveen Asset Management LLC raised its position in shares of Sunstone Hotel Investors by 15.5% during the fourth quarter. Nuveen Asset Management LLC now owns 6,741,243 shares of the real estate investment trust’s stock worth $87,704,000 after purchasing an additional 906,701 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Sunstone Hotel Investors by 167.7% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 362,165 shares of the real estate investment trust’s stock worth $4,712,000 after purchasing an additional 226,872 shares during the period.
SHO has been the topic of a number of research reports. Zacks Investment Research raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Saturday, January 5th. Deutsche Bank reaffirmed a “hold” rating and set a $16.00 target price on shares of Sunstone Hotel Investors in a research report on Thursday, February 14th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Sunstone Hotel Investors currently has an average rating of “Hold” and a consensus target price of $16.83.
Sunstone Hotel Investors (NYSE:SHO) last issued its earnings results on Tuesday, February 12th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. Sunstone Hotel Investors had a return on equity of 10.02% and a net margin of 21.61%. The company had revenue of $280.85 million for the quarter, compared to analyst estimates of $275.14 million. During the same period in the prior year, the firm earned $0.28 earnings per share. Sunstone Hotel Investors’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts predict that Sunstone Hotel Investors Inc will post 1.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, March 28th. Sunstone Hotel Investors’s payout ratio is 17.09%.
Sunstone Hotel Investors Company 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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