Rush Island Management LP recently announced the acquisition of new stake in Sunstone Hotel Investors Inc (NYSE:SHO). The institutional investor has increased its shareholding in the Real Estate company by 30.26% to 9.58 million shares with purchase of 2.23 million shares. This fresh investment now brings its stake to 4.66% valued currently at $94.65 million. In addition, Tarsadia Capital LLC raised its holdings by 4.03 million to 5.57 million shares. And CBRE Investment Management Listed has lifted its position by 3.55% or 0.17 million shares – to 5.07 million shares.
Currently, there are 209.32M common shares owned by the public and among those 203.30M shares have been available to trade.
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Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 237,077 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 235,145 shares.
The top 3 mutual fund holders in Sunstone Hotel Investors Inc are iShares Core S&P Small Cap ETF, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF. iShares Core S&P Small Cap ETF owns 13.87 million shares of the company’s stock, all valued at over $136.99 million. The company bought an additional 6900.0 shares recently to bring their total holdings to about 6.75% of the shares outstanding. Vanguard Real Estate Index Fund sold 64986.0 shares to see its total holdings shrink to 8.11 million shares valued at over $80.13 million and representing 3.95% of the shares outstanding. Vanguard Total Stock Market ETF bought 14401.0 shares to bring its total holdings to over 6.48 million shares at a value of $64.0 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.15% of the shares outstanding.
However, the script later moved the day high at 10.85, up 0.75%. The company’s stock has a 5-day price change of 2.29% and 17.58% over the past three months. SHO shares are trading 10.77% year to date (YTD), with the 12-month market performance up to 6.47% higher. It has a 12-month low price of $8.60 and touched a high of $11.38 over the same period. SHO has an average intraday trading volume of 2.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.73%, 9.79%, and 10.36% respectively.
Institutional ownership of Sunstone Hotel Investors Inc (NYSE: SHO) shares accounts for 105.55% of the company’s 209.32M shares outstanding. Mutual fund holders own 47.83%, while other institutional holders and individual stakeholders account for 58.84% and 3.79% respectively.
It has a market capitalization of $2.20B and a beta (3y monthly) value of 1.22. The stock’s trailing 12-month PE ratio is 26.82, while the earnings-per-share (ttm) stands at $0.40. The company has a PEG of 1.35 and the debt-to-equity ratio at 0.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.84% over the week and 2.23% over the month.
Analysts forecast that Sunstone Hotel Investors Inc (SHO) will achieve an EPS of -$0.01 for the current quarter, $0 for the next quarter and $0.35 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.07 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was $0.07 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.24%, and -42.06% over the next financial year. EPS should grow at an annualized rate of 19.90% over the next five years, compared to -9.48% over the past 5-year period.
Looking at the support for the SHO, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on December 14, 2023, with the firm’s price target at $9-$10.
