MetLife Investment Management LLC Boosts Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

MetLife Investment Management LLC grew its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO – Get Rating) by 8.5% during the third quarter, Holdings Channel reports. The institutional investor owned 114,671 shares of the real estate investment trust’s stock after buying an additional 8,962 shares during the period. MetLife Investment Management LLC’s holdings in Sunstone Hotel Investors were worth $1,080,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its position in shares of Sunstone Hotel Investors by 127.0% during the 3rd quarter. Hsbc Holdings PLC now owns 98,384 shares of the real estate investment trust’s stock valued at $928,000 after buying an additional 55,052 shares in the last quarter. Cipher Capital LP raised its stake in Sunstone Hotel Investors by 330.3% during the 3rd quarter. Cipher Capital LP now owns 58,378 shares of the real estate investment trust’s stock valued at $550,000 after purchasing an additional 44,811 shares during the period. Envestnet Asset Management Inc. raised its stake in Sunstone Hotel Investors by 2.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 121,898 shares of the real estate investment trust’s stock valued at $1,148,000 after purchasing an additional 2,518 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Sunstone Hotel Investors by 4.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 218,290 shares of the real estate investment trust’s stock valued at $2,057,000 after purchasing an additional 9,900 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Sunstone Hotel Investors by 16,200.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,586 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 3,564 shares during the period. 99.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on SHO shares. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Tuesday, November 15th. Barclays reduced their price objective on Sunstone Hotel Investors from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 10th. Morgan Stanley reduced their price objective on Sunstone Hotel Investors from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 7th. Truist Financial reduced their price objective on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, December 5th. Finally, Raymond James downgraded Sunstone Hotel Investors from a “market perform” rating to an “underperform” rating in a research note on Friday, December 9th. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.00.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $10.57 on Wednesday. The company has a market cap of $2.20 billion, a P/E ratio of 30.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50 day moving average price is $10.23 and its 200-day moving average price is $10.50. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.19 and a fifty-two week high of $12.72.

Sunstone Hotel Investors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, March 30th. Sunstone Hotel Investors’s dividend payout ratio is currently 28.57%.

Sunstone Hotel Investors Profile

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Sunstone Hotel Investors, Inc is a real estate investment trust, which engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. Its portfolio consists of upper upscale hotels located in major convention, resort destination, and urban markets. The company was founded by Robert A.