JPMorgan Chase & Co. Has $55.91 Million Stock Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

JPMorgan Chase & Co. reduced its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,721,843 shares of the real estate investment trust’s stock after selling 53,690 shares during the period. JPMorgan Chase & Co. owned about 2.35% of Sunstone Hotel Investors worth $55,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SHO. Smartleaf Asset Management LLC lifted its stake in Sunstone Hotel Investors by 442.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 2,448 shares during the period. GAMMA Investing LLC lifted 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 worth $39,000 after buying an additional 1,743 shares during the period. KBC Group NV boosted its stake in Sunstone Hotel Investors by 55.4% in the 4th quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 3,249 shares in the last quarter. Longboard Asset Management LP bought a new stake in Sunstone Hotel Investors in the fourth quarter valued at $141,000. Finally, Heritage Family Offices LLP raised its stake in Sunstone Hotel Investors by 7.2% during the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 969 shares in the last quarter. Institutional investors own 99.37% of the company’s stock.

Wall Street Analyst Weigh In

SHO has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of 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. Morgan Stanley reaffirmed an “underweight” rating and set a $10.00 price objective on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Jefferies Financial Group lifted their target price on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Finally, Truist Financial decreased their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.57.

Sunstone Hotel Investors Stock Performance

SHO stock opened at $8.30 on Friday. The company has a 50 day moving average price of $10.44 and a 200 day moving average price of $10.84. Sunstone Hotel Investors, Inc. has a fifty-two week low of $8.01 and a fifty-two week high of $12.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market capitalization of $1.67 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16.

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

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 257.14%.

Sunstone Hotel Investors 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.