Pictet Asset Management Ltd. Buys 9,800 Shares of Sunstone Hotel Investors Inc (NYSE:SHO)

Pictet Asset Management Ltd. boosted its stake in Sunstone Hotel Investors Inc (NYSE:SHO) by 35.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,600 shares of the real estate investment trust’s stock after purchasing an additional 9,800 shares during the period. Pictet Asset Management Ltd.’s holdings in Sunstone Hotel Investors were worth $541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in Sunstone Hotel Investors by 5.4% in the 1st quarter. BlackRock Inc. now owns 24,799,129 shares of the real estate investment trust’s stock valued at $357,109,000 after acquiring an additional 1,264,668 shares in the last quarter. Acadian Asset Management LLC bought a new position in Sunstone Hotel Investors in the 1st quarter valued at about $437,000. Parametric Portfolio Associates LLC lifted its position in Sunstone Hotel Investors by 3.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 340,115 shares of the real estate investment trust’s stock valued at $4,898,000 after acquiring an additional 10,327 shares in the last quarter. First Trust Advisors LP lifted its position in Sunstone Hotel Investors by 17.8% in the 1st quarter. First Trust Advisors LP now owns 473,171 shares of the real estate investment trust’s stock valued at $6,814,000 after acquiring an additional 71,644 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Sunstone Hotel Investors by 1.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 209,980 shares of the real estate investment trust’s stock valued at $3,021,000 after acquiring an additional 3,198 shares in the last quarter.

Sunstone Hotel Investors stock opened at $13.80 on Thursday. Sunstone Hotel Investors Inc has a 52 week low of $12.70 and a 52 week high of $17.08. The company has a current ratio of 7.05, a quick ratio of 7.05 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.13 and a beta of 1.11.

Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Monday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. Sunstone Hotel Investors had a net margin of 20.15% and a return on equity of 9.13%. The firm had revenue of $257.68 million for the quarter, compared to analysts’ expectations of $256.64 million. During the same quarter last year, the firm earned $0.20 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Sunstone Hotel Investors Inc will post 1.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.45%. Sunstone Hotel Investors’s dividend payout ratio is currently 17.09%.

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. TheStreet cut shares of Sunstone Hotel Investors from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. Finally, Deutsche Bank reissued a “hold” rating and set a $16.00 target price on shares of Sunstone Hotel Investors in a research report on Thursday, February 14th. Four analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $16.75.

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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 Estate®, 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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