Index Fund Advisors Inc. Has $2.67 Million Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Index Fund Advisors Inc. decreased its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 35.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 225,157 shares of the real estate investment trust’s stock after selling 121,325 shares during the period. Sunstone Hotel Investors makes up 0.1% of Index Fund Advisors Inc.’s holdings, making the stock its 22nd biggest holding. Index Fund Advisors Inc.’s holdings in Sunstone Hotel Investors were worth $2,666,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SHO. Truist Financial Corp lifted its position in shares of Sunstone Hotel Investors by 7.0% during the second quarter. Truist Financial Corp now owns 47,223 shares of the real estate investment trust’s stock worth $494,000 after purchasing an additional 3,098 shares in the last quarter. Blue Trust Inc. raised its position in Sunstone Hotel Investors by 194.5% in the 3rd quarter. Blue Trust Inc. now owns 21,812 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 14,406 shares during the last quarter. Everence Capital Management Inc. raised its position in Sunstone Hotel Investors by 100.1% in the 3rd quarter. Everence Capital Management Inc. now owns 24,730 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 12,370 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Sunstone Hotel Investors by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 1,937 shares in the last quarter. Finally, abrdn plc boosted its position in Sunstone Hotel Investors by 10.0% in the 3rd quarter. abrdn plc now owns 44,055 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 4,010 shares during the last quarter. Institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Price Performance

Shares of SHO opened at $11.30 on Tuesday. The stock has a market cap of $2.27 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 3.78 and a beta of 1.20. Sunstone Hotel Investors, Inc. has a 1 year low of $9.39 and a 1 year high of $12.41. The stock’s 50-day moving average price is $11.80 and its two-hundred day moving average price is $10.81. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $224.61 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business’s revenue was down 8.6% on a year-over-year basis. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SHO. Morgan Stanley restated an “underweight” rating and set a $10.00 target price on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Wells Fargo & Company boosted their price objective on Sunstone Hotel Investors from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Finally, Jefferies Financial Group raised their target price on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sunstone Hotel Investors has an average rating of “Hold” and an average price target of $11.86.

About Sunstone Hotel Investors

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.