138,280 Shares in Sunstone Hotel Investors, Inc. (NYSE:SHO) Purchased by Comerica Bank

Comerica Bank purchased a new position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHOGet Rating) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 138,280 shares of the real estate investment trust’s stock, valued at approximately $1,488,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHO. JPMorgan Chase & Co. grew its holdings in Sunstone Hotel Investors by 114.5% during the second quarter. JPMorgan Chase & Co. now owns 9,544,054 shares of the real estate investment trust’s stock worth $94,677,000 after purchasing an additional 5,095,604 shares during the period. Long Pond Capital LP bought a new stake in shares of Sunstone Hotel Investors during the second quarter worth approximately $14,990,000. Centersquare Investment Management LLC bought a new stake in shares of Sunstone Hotel Investors during the first quarter worth approximately $16,575,000. Franklin Resources Inc. boosted its holdings in shares of Sunstone Hotel Investors by 16.7% during the second quarter. Franklin Resources Inc. now owns 8,243,464 shares of the real estate investment trust’s stock worth $81,775,000 after acquiring an additional 1,177,444 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Sunstone Hotel Investors by 74.7% during the first quarter. The Manufacturers Life Insurance Company now owns 2,337,480 shares of the real estate investment trust’s stock worth $27,536,000 after acquiring an additional 999,493 shares during the period. Institutional investors own 99.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHO. StockNews.com cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft cut their price target on Sunstone Hotel Investors from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, October 25th. 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 research note on Monday, December 5th. Barclays cut their price target on Sunstone Hotel Investors from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, January 10th. Finally, Morgan Stanley assumed coverage on Sunstone Hotel Investors in a research note on Monday, December 5th. They issued an “underweight” rating and a $10.00 price target for the company. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Sunstone Hotel Investors currently has a consensus rating of “Hold” and a consensus target price of $11.17.

Sunstone Hotel Investors Stock Up 2.8 %

Shares of SHO opened at $10.20 on Monday. Sunstone Hotel Investors, Inc. has a one year low of $9.19 and a one year high of $12.72. The company has a market cap of $2.15 billion, a P/E ratio of 11.46 and a beta of 1.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a 50 day simple moving average of $10.13 and a two-hundred day simple moving average of $10.50.

Sunstone Hotel Investors (NYSE:SHOGet Rating) last announced its quarterly earnings data on Tuesday, November 8th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.15). Sunstone Hotel Investors had a net margin of 24.29% and a return on equity of 10.86%. The firm had revenue of $244.31 million for the quarter, compared to analyst estimates of $235.14 million. Research analysts forecast that Sunstone Hotel Investors, Inc. will post 0.81 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, December 29th. This represents a $0.20 annualized dividend and a dividend yield of 1.96%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 11.24%.

About Sunstone Hotel Investors

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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 EstateĀ®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.

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Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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