JPMorgan Chase & Co. Boosts Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

JPMorgan Chase & Co. lifted its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 31.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,775,533 shares of the real estate investment trust’s stock after buying an additional 1,130,558 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.38% of Sunstone Hotel Investors worth $49,284,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Federated Hermes Inc. acquired a new position in Sunstone Hotel Investors during the second quarter worth $34,000. Quarry LP raised its position in shares of Sunstone Hotel Investors by 584.1% during the 2nd quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 3,680 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Sunstone Hotel Investors in the 3rd quarter valued at about $59,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Sunstone Hotel Investors by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 1,937 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Sunstone Hotel Investors by 8,623.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 11,515 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 11,383 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Up 1.2 %

Shares of NYSE:SHO opened at $11.79 on Friday. Sunstone Hotel Investors, Inc. has a 52-week low of $9.39 and a 52-week high of $12.41. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $11.21 and a two-hundred day moving average of $10.57. The stock has a market cap of $2.37 billion, a P/E ratio of 15.51, a PEG ratio of 6.45 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm had revenue of $226.40 million for the quarter, compared to analyst estimates of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Sunstone Hotel Investors’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 earnings per share. On average, research analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors’s dividend payout ratio is presently 44.74%.

Analyst Upgrades and Downgrades

SHO has been the topic of several research reports. Jefferies Financial Group raised their target price on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on Sunstone Hotel Investors from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sunstone Hotel Investors currently has an average rating of “Hold” and an average target price of $12.17.

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.