Tributary Capital Management LLC Sells 5,621 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Tributary Capital Management LLC trimmed its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 0.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,327,732 shares of the real estate investment trust’s stock after selling 5,621 shares during the period. Tributary Capital Management LLC owned 0.65% of Sunstone Hotel Investors worth $13,702,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. EntryPoint Capital LLC bought a new position in shares of Sunstone Hotel Investors in the 1st quarter worth $30,000. Federated Hermes Inc. acquired a new position in shares of Sunstone Hotel Investors during the 2nd quarter worth about $34,000. Quarry LP increased its stake in shares of Sunstone Hotel Investors by 584.1% in the 2nd quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 3,680 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Sunstone Hotel Investors in the 1st quarter valued at approximately $49,000. Finally, 1620 Investment Advisors Inc. bought a new position in Sunstone Hotel Investors during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Price Performance

NYSE:SHO opened at $10.26 on Monday. The firm’s 50-day simple moving average is $10.28 and its 200 day simple moving average is $10.25. Sunstone Hotel Investors, Inc. has a 52 week low of $9.03 and a 52 week high of $11.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.75 and a current ratio of 3.75. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 5.97 and a beta of 1.24.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The firm had revenue of $247.50 million for the quarter, compared to the consensus estimate of $248.12 million. Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The company’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.09 per share. The ex-dividend date was Monday, September 30th. This represents a $0.36 annualized dividend and a yield of 3.51%. Sunstone Hotel Investors’s dividend payout ratio is presently 39.02%.

Analysts Set New Price Targets

SHO has been the topic of a number of recent analyst reports. Wells Fargo & Company raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target on the stock in a research report on Friday, September 13th. StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Wolfe Research upgraded Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sunstone Hotel Investors has an average rating of “Hold” and an average price target of $11.42.

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.