State of New Jersey Common Pension Fund D Acquires 16,829 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

State of New Jersey Common Pension Fund D increased its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 208,664 shares of the real estate investment trust’s stock after purchasing an additional 16,829 shares during the period. State of New Jersey Common Pension Fund D owned 0.10% of Sunstone Hotel Investors worth $2,471,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SHO. GAMMA Investing LLC boosted its stake in Sunstone Hotel Investors by 114.1% in the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,743 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Sunstone Hotel Investors in the third quarter valued at approximately $59,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Sunstone Hotel Investors by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 1,937 shares in the last quarter. KBC Group NV boosted its stake in Sunstone Hotel Investors by 55.4% in the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 3,249 shares in the last quarter. Finally, Longboard Asset Management LP acquired a new stake in Sunstone Hotel Investors in the fourth quarter valued at approximately $141,000. 99.37% of the stock is currently owned by institutional investors and hedge funds.

Sunstone Hotel Investors Stock Down 0.4 %

SHO opened at $11.32 on Friday. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $12.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. The company has a fifty day moving average of $11.67 and a two-hundred day moving average of $10.85. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 4.58 and a beta of 1.20.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SHO. Morgan Stanley restated an “underweight” rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. 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 for the company in a research note on Tuesday. Finally, Jefferies Financial Group lifted their price objective on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.71.

About Sunstone Hotel Investors

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.