Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO – Get Rating) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,859 shares of the real estate investment trust’s stock after purchasing an additional 2,503 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Sunstone Hotel Investors were worth $931,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its stake in shares of Sunstone Hotel Investors by 2.0% during the second quarter. Asset Management One Co. Ltd. now owns 439,122 shares of the real estate investment trust’s stock valued at $4,356,000 after purchasing an additional 8,700 shares during the period. Franklin Resources Inc. boosted its position in Sunstone Hotel Investors by 16.7% during the 2nd quarter. Franklin Resources Inc. now owns 8,243,464 shares of the real estate investment trust’s stock valued at $81,775,000 after buying an additional 1,177,444 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Sunstone Hotel Investors by 36.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 159,732 shares of the real estate investment trust’s stock worth $1,578,000 after acquiring an additional 43,053 shares during the last quarter. Mizuho Securities USA LLC bought a new stake in Sunstone Hotel Investors in the 3rd quarter worth $105,000. Finally, Russell Investments Group Ltd. increased its position in shares of Sunstone Hotel Investors by 43.5% in the second quarter. Russell Investments Group Ltd. now owns 2,110,920 shares of the real estate investment trust’s stock valued at $20,954,000 after acquiring an additional 639,567 shares during the period. Hedge funds and other institutional investors own 99.51% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Tuesday, November 15th. Morgan Stanley assumed coverage on shares of Sunstone Hotel Investors in a report on Monday, December 5th. They set an “underweight” rating and a $10.00 target price on the stock. Raymond James lowered Sunstone Hotel Investors from a “market perform” rating to an “underperform” rating in a report on Friday, December 9th. Truist Financial cut their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating for the company in a report on Monday, December 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Sunstone Hotel Investors from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, October 25th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunstone Hotel Investors currently has an average rating of “Hold” and an average target price of $11.17.
Sunstone Hotel Investors Price Performance
Sunstone Hotel Investors (NYSE:SHO – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.15). The company had revenue of $244.31 million during the quarter, compared to analysts’ expectations of $235.14 million. Sunstone Hotel Investors had a net margin of 24.29% and a return on equity of 10.86%. Sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.81 earnings per share for the current fiscal year.
Sunstone Hotel Investors Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Thursday, December 29th. Sunstone Hotel Investors’s dividend payout ratio is presently 11.24%.
Sunstone Hotel Investors 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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