Swiss National Bank Buys 2,300 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Swiss National Bank boosted its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,949 shares of the real estate investment trust’s stock after acquiring an additional 2,300 shares during the quarter. Swiss National Bank’s holdings in Sunstone Hotel Investors were worth $4,499,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHO. JPMorgan Chase & Co. grew its holdings in shares of Sunstone Hotel Investors by 31.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock worth $49,284,000 after purchasing an additional 1,130,558 shares during the last quarter. Intech Investment Management LLC acquired a new position in Sunstone Hotel Investors in the third quarter valued at about $573,000. NFJ Investment Group LLC bought a new stake in Sunstone Hotel Investors during the third quarter worth about $3,220,000. Principal Financial Group Inc. increased its holdings in shares of Sunstone Hotel Investors by 11.6% during the third quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust’s stock worth $11,566,000 after buying an additional 116,058 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Sunstone Hotel Investors by 2.1% in the third quarter. Geode Capital Management LLC now owns 5,247,927 shares of the real estate investment trust’s stock valued at $54,169,000 after acquiring an additional 109,327 shares during the last quarter. 99.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on SHO shares. Morgan Stanley restated an “underweight” rating and set a $10.00 price target on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Truist Financial decreased their target price on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company cut their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, Jefferies Financial Group lifted their target price on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.57.

Sunstone Hotel Investors Price Performance

Shares of SHO opened at $9.78 on Wednesday. The stock has a market cap of $1.97 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 4.52 and a beta of 1.19. Sunstone Hotel Investors, Inc. has a 1 year low of $9.39 and a 1 year high of $12.41. The stock’s 50-day moving average price is $10.82 and its two-hundred day moving average price is $10.89. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The business had revenue of $214.77 million for the quarter, compared to analyst estimates of $211.17 million. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio is currently 257.14%.

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 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.