Bank of New York Mellon Corp Sells 756,273 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Bank of New York Mellon Corp reduced its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 30.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,702,764 shares of the real estate investment trust’s stock after selling 756,273 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.85% of Sunstone Hotel Investors worth $20,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in Sunstone Hotel Investors by 645.6% during the 4th quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust’s stock valued at $98,929,000 after purchasing an additional 7,234,862 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Sunstone Hotel Investors by 460.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,372 shares of the real estate investment trust’s stock worth $14,596,000 after buying an additional 1,161,792 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Sunstone Hotel Investors by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock worth $49,284,000 after buying an additional 1,130,558 shares during the period. Heitman Real Estate Securities LLC grew its stake in Sunstone Hotel Investors by 976.5% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 1,238,002 shares of the real estate investment trust’s stock valued at $12,776,000 after buying an additional 1,123,001 shares during the last quarter. Finally, NFJ Investment Group LLC bought a new position in shares of Sunstone Hotel Investors during the third quarter worth approximately $3,220,000. 99.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group increased their price objective on Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Morgan Stanley reaffirmed an “underweight” rating and set a $10.00 price target on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Finally, Wells Fargo & Company reduced their target price on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Two research analysts have 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.71.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $10.16 on Tuesday. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $12.41. The stock has a market cap of $2.04 billion, a PE ratio of 13.36, a PEG ratio of 4.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. The firm’s fifty day moving average price is $11.31 and its two-hundred day moving average price is $10.92.

Sunstone Hotel Investors (NYSE:SHO) last issued its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The business had revenue of $214.77 million during the quarter, compared to analysts’ expectations of $211.17 million. On average, equities analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.55%. The ex-dividend date is Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 257.14%.

Sunstone Hotel Investors Company Profile

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.