The Vanguard Group, Inc. 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 0.59% to 34.13 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 16.38% valued currently at $325.24 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.46 million to 14.11 million shares. And Franklin Mutual Advisers LLC has lifted its position by 0.22% or 20115.0 shares – to 8.98 million shares.
With over 1.3 million Sunstone Hotel Investors Inc. (SHO) shares trading Tuesday and a closing price of $10.20 on the day, the dollar volume was approximately $13.27 million. The shares have shown a negative half year performance of -4.14% and its price on 05/23/23 lost nearly -0.78%. Currently, there are 207.03M common shares owned by the public and among those 206.71M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for SHO have a consensus price objective of $10.00. The analysts have set the share’s price value over the next 12 months at a high of $11.50 and a low of $9.00. The average price target is -0.2% below its recent price level and a downside to the estimated low will see the stock lose -13.33% over that period. But an upside of 11.3% will see the stock hit the forecast high price target while median target price for the stock is $10.00.
Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 154,525 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 235,146 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 15.26 million shares of the company’s stock, all valued at over $145.43 million. The company sold 21250.0 shares recently to bring their total holdings to about 7.33% of the shares outstanding. Vanguard Real Estate Index Fund sold 75860.0 shares to see its total holdings shrink to 9.27 million shares valued at over $88.36 million and representing 4.45% of the shares outstanding. Vanguard Total Stock Market ETF bought 9162.0 shares to bring its total holdings to over 6.43 million shares at a value of $61.3 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.09% of the shares outstanding.
Shares of Sunstone Hotel Investors Inc. (NYSE: SHO) opened at $10.31, up $0.03 from a prior closing price of $10.28. However, the script later moved the day high at 10.35, down -0.78%. The company’s stock has a 5-day price change of 0.69% and -2.86% over the past three months. SHO shares are trading 5.59% year to date (YTD), with the 12-month market performance down to -8.77% lower. It has a 12-month low price of $8.60 and touched a high of $12.72 over the same period. SHO has an average intraday trading volume of 2.22 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 1.92%, 4.94%, and -1.30% respectively.
Institutional ownership of Sunstone Hotel Investors Inc. (NYSE: SHO) shares accounts for 111.61% of the company’s 207.03M shares outstanding. Mutual fund holders own 44.14%, while other institutional holders and individual stakeholders account for 65.41% and 3.74% respectively.
It has a market capitalization of $2.12B and a beta (3y monthly) value of 1.28. The stock’s trailing 12-month PE ratio is 26.98, while the earnings-per-share (ttm) stands at $0.38. The company has a PEG of 1.36 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.20% over the week and 2.99% over the month.
Analysts forecast that Sunstone Hotel Investors Inc. (SHO) will achieve an EPS of $0.14 for the current quarter, $0.05 for the next quarter and $0.21 for 2024. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was $0.15 a year ago. Earnings per share for the fiscal year are expected to increase by 444.20%, and -31.94% over the next financial year. EPS should grow at an annualized rate of 19.90% over the next five years, compared to -10.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate Sunstone Hotel Investors Inc. (SHO) as a “Hold” at a consensus score of 3.50. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 6 of the 12 advise that investors “hold,” and 5 rated it as a “Sell.”
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