1 week Ago By ABMN Staff
Norges Bank acquired a new position in Sunstone Hotel Investors, Inc. ( NYSE:SHO – Free Report ) during the 4th quarter, HoldingsChannel reports. The fund acquired 731,293 shares of the real estate investment trust’s stock, valued at approximately $8,659,000.
Several other institutional investors have also recently made changes to their positions in SHO. JPMorgan Chase & Co. grew its position in Sunstone Hotel Investors by 31.
0% during the third quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock valued at $49,284,000 after buying an additional 1,130,558 shares during the period.
Principal Financial Group Inc. boosted its stake in shares of Sunstone Hotel Investors by 11.6% during the 3rd quarter.
Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust’s stock worth $11,566,000 after acquiring an additional 116,058 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Sunstone Hotel Investors by 114.
1% during the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,743 shares during the period. Geode Capital Management LLC increased its stake in shares of Sunstone Hotel Investors by 2.
1% in the 3rd quarter. Geode Capital Management LLC now owns 5,247,927 shares of the real estate investment trust’s stock valued at $54,169,000 after purchasing an additional 109,327 shares in the last quarter. Finally, Barclays PLC raised its holdings in Sunstone Hotel Investors by 304.
9% in the 3rd quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust’s stock worth $3,540,000 after purchasing an additional 258,302 shares during the period. 99.
37% of the stock is owned by hedge funds and other institutional investors. Analysts Set New Price Targets SHO has been the subject of a number of recent analyst reports. Morgan Stanley restated an “underweight” rating and issued a $10.
00 price objective on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Truist Financial cut their price target on shares of Sunstone Hotel Investors from $12.00 to $11.
00 and set a “hold” rating for the company in a report on Friday, March 21st. Jefferies Financial Group increased their price objective on shares of Sunstone Hotel Investors from $10.00 to $12.
00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Finally, Wells Fargo & Company cut their target price on shares of Sunstone Hotel Investors from $13.00 to $12.
00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.
com, the company currently has an average rating of “Hold” and an average target price of $11.57. Sunstone Hotel Investors Trading Down 3.
8 % Shares of SHO opened at $7.70 on Wednesday. Sunstone Hotel Investors, Inc.
has a 52-week low of $7.63 and a 52-week high of $12.41.
The stock has a market cap of $1.55 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 4.
52 and a beta of 1.16. The firm’s fifty day moving average is $10.
22 and its two-hundred day moving average is $10.78. The company has a quick ratio of 2.
98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44.
Sunstone Hotel Investors ( NYSE:SHO – Get Free Report ) last posted its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.
14 by $0.02. The firm had revenue of $214.
77 million for the quarter, compared to analyst estimates of $211.17 million. Sunstone Hotel Investors had a net margin of 18.
61% and a return on equity of 9.04%. Research analysts forecast that Sunstone Hotel Investors, Inc.
will post 0.79 earnings per share for the current fiscal year. Sunstone Hotel Investors Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th.
Investors of record on Monday, March 31st will be issued a $0.09 dividend. The ex-dividend date is Monday, March 31st.
This represents a $0.36 annualized dividend and a dividend yield of 4.68%.
Sunstone Hotel Investors’s dividend payout ratio is presently 257.14%. About Sunstone Hotel Investors ( Free Report ) 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. Further Reading Want to see what other hedge funds are holding SHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sunstone Hotel Investors, Inc.
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