Cornerstone Capital Management Holdings LLC. Has $6.68 Million Position in Sunstone Hotel Investors, Inc. (SHO)

Cornerstone Capital Management Holdings LLC. lifted its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 28.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 414,346 shares of the real estate investment trust’s stock after purchasing an additional 90,645 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.18% of Sunstone Hotel Investors worth $6,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. US Bancorp DE lifted its position in Sunstone Hotel Investors by 20.9% in the first quarter. US Bancorp DE now owns 14,142 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 2,448 shares during the last quarter. American International Group Inc. raised its holdings in Sunstone Hotel Investors by 5.5% in the first quarter. American International Group Inc. now owns 131,965 shares of the real estate investment trust’s stock valued at $2,023,000 after acquiring an additional 6,906 shares in the last quarter. Legal & General Group Plc raised its holdings in Sunstone Hotel Investors by 22.7% in the second quarter. Legal & General Group Plc now owns 671,442 shares of the real estate investment trust’s stock valued at $10,829,000 after acquiring an additional 124,144 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Sunstone Hotel Investors by 6.0% in the first quarter. Envestnet Asset Management Inc. now owns 7,919 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 449 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Sunstone Hotel Investors by 2.4% in the first quarter. California Public Employees Retirement System now owns 598,439 shares of the real estate investment trust’s stock valued at $9,174,000 after acquiring an additional 13,900 shares in the last quarter.

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Shares of Sunstone Hotel Investors, Inc. (SHO) opened at 16.32 on Wednesday. Sunstone Hotel Investors, Inc. has a one year low of $12.14 and a one year high of $16.86. The stock has a market cap of $3.68 billion, a PE ratio of 21.17 and a beta of 1.17. The stock’s 50 day moving average price is $15.81 and its 200-day moving average price is $15.81.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. The business had revenue of $318.80 million for the quarter, compared to analyst estimates of $316.96 million. Sunstone Hotel Investors had a return on equity of 7.70% and a net margin of 15.41%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post $0.69 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, September 28th. Sunstone Hotel Investors’s dividend payout ratio is 25.64%.

SHO has been the topic of several analyst reports. Canaccord Genuity raised their target price on shares of Sunstone Hotel Investors from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of Sunstone Hotel Investors from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research lowered shares of Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Robert W. Baird restated a “neutral” rating and set a $17.00 target price (up from $16.00) on shares of Sunstone Hotel Investors in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Sunstone Hotel Investors has a consensus rating of “Hold” and a consensus target price of $16.13.

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust. The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. It operates through hotel ownership segment. It owns primarily urban and resort upper upscale hotels in the United States.

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

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