Bank of New York Mellon Corp Increases Position in Sunstone Hotel Investors Inc (SHO)

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Bank of New York Mellon Corp boosted its position in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 25.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,133,159 shares of the real estate investment trust’s stock after buying an additional 833,085 shares during the period. Bank of New York Mellon Corp’s holdings in Sunstone Hotel Investors were worth $68,694,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Albert D Mason Inc. grew its position in Sunstone Hotel Investors by 254.6% in the first quarter. Albert D Mason Inc. now owns 47,574 shares of the real estate investment trust’s stock worth $724,000 after acquiring an additional 34,157 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Sunstone Hotel Investors by 4.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,942 shares of the real estate investment trust’s stock worth $3,332,000 after acquiring an additional 10,096 shares in the last quarter. Westpac Banking Corp grew its position in Sunstone Hotel Investors by 11.0% in the first quarter. Westpac Banking Corp now owns 722,392 shares of the real estate investment trust’s stock worth $10,995,000 after acquiring an additional 71,744 shares in the last quarter. Frontier Capital Management Co. LLC grew its position in Sunstone Hotel Investors by 2.5% in the first quarter. Frontier Capital Management Co. LLC now owns 3,924,408 shares of the real estate investment trust’s stock worth $59,729,000 after acquiring an additional 97,108 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Sunstone Hotel Investors by 27.7% in the first quarter. SG Americas Securities LLC now owns 82,517 shares of the real estate investment trust’s stock worth $1,256,000 after acquiring an additional 17,909 shares in the last quarter.

Several analysts recently issued reports on the stock. Barclays upped their price objective on shares of Sunstone Hotel Investors from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, June 1st. ValuEngine downgraded shares of Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Wells Fargo & Co reaffirmed a “hold” rating on shares of Sunstone Hotel Investors in a report on Friday, June 1st. Jefferies Financial Group assumed coverage on shares of Sunstone Hotel Investors in a report on Thursday, May 31st. They set a “hold” rating and a $17.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.94.

NYSE SHO opened at $16.69 on Thursday. The company has a quick ratio of 5.61, a current ratio of 5.62 and a debt-to-equity ratio of 0.40. The firm has a market cap of $3.75 billion, a P/E ratio of 13.68, a PEG ratio of 3.15 and a beta of 1.06. Sunstone Hotel Investors Inc has a 1 year low of $14.09 and a 1 year high of $17.60.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.16). The firm had revenue of $317.40 million for the quarter, compared to the consensus estimate of $317.54 million. Sunstone Hotel Investors had a return on equity of 4.26% and a net margin of 10.08%. Sunstone Hotel Investors’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. equities research analysts expect that Sunstone Hotel Investors Inc will post 1.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, September 27th. Sunstone Hotel Investors’s payout ratio is currently 16.39%.

Sunstone Hotel Investors Company Profile

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of July 30, 2018 has interests in 24 hotels comprised of 12,046 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate 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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Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

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