JPMorgan Chase & Co. Has $55.91 Million Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

JPMorgan Chase & Co. reduced its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 1.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,721,843 shares of the real estate investment trust’s stock after selling 53,690 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sunstone Hotel Investors were worth $55,907,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SHO. Principal Financial Group Inc. grew its holdings in 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 valued at $11,566,000 after purchasing an additional 116,058 shares during the period. GAMMA Investing LLC grew its holdings in shares of Sunstone Hotel Investors by 114.1% in the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 1,743 shares during the period. Geode Capital Management LLC increased its position in shares of Sunstone Hotel Investors by 2.1% in the 3rd 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 buying an additional 109,327 shares in the last quarter. Holocene Advisors LP acquired a new stake in Sunstone Hotel Investors during the 3rd quarter worth $519,000. Finally, Barclays PLC lifted its holdings in Sunstone Hotel Investors by 304.9% during the third quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust’s stock worth $3,540,000 after acquiring an additional 258,302 shares in the last quarter. 99.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Sunstone Hotel Investors Trading Down 3.8 %

Sunstone Hotel Investors stock opened at $8.30 on Friday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 10.92, a P/E/G ratio of 4.52 and a beta of 1.16. The firm has a 50-day moving average of $10.44 and a 200-day moving average of $10.84. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. Sunstone Hotel Investors, Inc. has a one year low of $8.01 and a one year high of $12.41.

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

Sunstone Hotel Investors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 257.14%.

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.