Comerica Bank Invests $1.49 Million in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Comerica Bank purchased a new position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHOGet Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 138,280 shares of the real estate investment trust’s stock, valued at approximately $1,488,000. Comerica Bank owned approximately 0.07% of Sunstone Hotel Investors as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Asset Management One Co. Ltd. boosted its stake in Sunstone Hotel Investors by 2.0% during the 2nd quarter. Asset Management One Co. Ltd. now owns 439,122 shares of the real estate investment trust’s stock valued at $4,356,000 after purchasing an additional 8,700 shares during the period. Franklin Resources Inc. boosted its stake in Sunstone Hotel Investors by 16.7% during the 2nd quarter. Franklin Resources Inc. now owns 8,243,464 shares of the real estate investment trust’s stock valued at $81,775,000 after purchasing an additional 1,177,444 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Sunstone Hotel Investors by 36.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 159,732 shares of the real estate investment trust’s stock valued at $1,578,000 after purchasing an additional 43,053 shares during the period. Mizuho Securities USA LLC bought a new stake in Sunstone Hotel Investors during the 3rd quarter valued at approximately $105,000. Finally, Russell Investments Group Ltd. boosted its stake in Sunstone Hotel Investors by 43.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,110,920 shares of the real estate investment trust’s stock valued at $20,954,000 after purchasing an additional 639,567 shares during the period. Institutional investors own 99.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SHO. Barclays cut their price target on Sunstone Hotel Investors from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, January 10th. Raymond James cut Sunstone Hotel Investors from a “market perform” rating to an “underperform” rating in a report on Friday, December 9th. Morgan Stanley began coverage on Sunstone Hotel Investors in a report on Monday, December 5th. They issued an “underweight” rating and a $10.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on Sunstone Hotel Investors from $13.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, October 25th. Finally, StockNews.com cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Tuesday, November 15th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Sunstone Hotel Investors presently has a consensus rating of “Hold” and a consensus price target of $11.17.

Sunstone Hotel Investors Trading Up 2.8 %

Shares of SHO opened at $10.20 on Monday. The stock has a 50 day simple moving average of $10.13 and a 200-day simple moving average of $10.50. Sunstone Hotel Investors, Inc. has a 1 year low of $9.19 and a 1 year high of $12.72. The stock has a market cap of $2.15 billion, a PE ratio of 11.46 and a beta of 1.27. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHOGet Rating) last released its quarterly earnings results on Tuesday, November 8th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.15). Sunstone Hotel Investors had a net margin of 24.29% and a return on equity of 10.86%. The business had revenue of $244.31 million for the quarter, compared to analyst estimates of $235.14 million. On average, sell-side analysts predict that Sunstone Hotel Investors, Inc. will post 0.81 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, December 29th. This represents a $0.20 dividend on an annualized basis and a yield of 1.96%. Sunstone Hotel Investors’s dividend payout ratio is 11.24%.

Sunstone Hotel Investors Company Profile

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Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release has interests in 19 hotels comprised of 9,997 rooms. Sunstone's business is to acquire, own, asset manage and renovate or reposition hotels considered to be Long-Term Relevant Real EstateĀ®, 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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