Van ECK Associates Corp Boosts Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Van ECK Associates Corp raised its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 12.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,956 shares of the real estate investment trust’s stock after acquiring an additional 3,837 shares during the period. Van ECK Associates Corp’s holdings in Sunstone Hotel Investors were worth $353,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SHO. EntryPoint Capital LLC bought a new position in shares of Sunstone Hotel Investors in the first quarter worth approximately $30,000. Federated Hermes Inc. bought a new position in shares of Sunstone Hotel Investors in the 2nd quarter worth $34,000. Quarry LP increased its holdings in shares of Sunstone Hotel Investors by 584.1% in the 2nd quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 3,680 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Sunstone Hotel Investors during the 1st quarter valued at $49,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Sunstone Hotel Investors during the 2nd quarter worth $52,000. Institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Down 3.5 %

Shares of NYSE:SHO opened at $10.51 on Wednesday. The stock has a market capitalization of $2.14 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 6.29 and a beta of 1.25. The stock’s 50-day moving average price is $10.33 and its 200-day moving average price is $10.25. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors, Inc. has a 12-month low of $9.39 and a 12-month high of $11.59.

Analyst Ratings Changes

A number of research firms recently commented on SHO. Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a research note on Friday, September 13th. StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.42.

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.