JPMorgan Chase & Co. lifted its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO – Get Rating) by 114.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,544,054 shares of the real estate investment trust’s stock after buying an additional 5,095,604 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sunstone Hotel Investors were worth $94,677,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new stake in Sunstone Hotel Investors in the first quarter worth $91,000. Aaron Wealth Advisors LLC bought a new position in shares of Sunstone Hotel Investors in the first quarter worth about $790,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Sunstone Hotel Investors by 515.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,387 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 8,700 shares during the last quarter. Xponance Inc. lifted its stake in Sunstone Hotel Investors by 12.5% in the second quarter. Xponance Inc. now owns 11,656 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 1,294 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in Sunstone Hotel Investors in the second quarter worth about $131,000. Hedge funds and other institutional investors own 99.51% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Tuesday, November 15th. Citigroup upped their target price on Sunstone Hotel Investors to $12.00 in a report on Monday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Sunstone Hotel Investors from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, October 25th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.14.
Sunstone Hotel Investors Stock Performance
Sunstone Hotel Investors Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.20 dividend on an annualized basis and a yield of 1.84%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 5.62%.
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 has interests in 19 hotels comprised of 9,997 rooms. Sunstone's business is to acquire, own, asset manage and renovate or reposition hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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