Mirae Asset Global Investments Co. Ltd. Purchases 1,937 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 34.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,510 shares of the real estate investment trust’s stock after buying an additional 1,937 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Sunstone Hotel Investors were worth $80,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Sunstone Hotel Investors by 6.2% during the first quarter. Janney Montgomery Scott LLC now owns 20,805 shares of the real estate investment trust’s stock worth $232,000 after purchasing an additional 1,215 shares during the period. Van ECK Associates Corp lifted its holdings in Sunstone Hotel Investors by 5.5% in the 2nd quarter. Van ECK Associates Corp now owns 31,119 shares of the real estate investment trust’s stock worth $326,000 after buying an additional 1,635 shares during the period. Evergreen Capital Management LLC grew its position in shares of Sunstone Hotel Investors by 12.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 17,479 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 1,881 shares during the last quarter. Diversified Trust Co increased its stake in shares of Sunstone Hotel Investors by 5.8% during the second quarter. Diversified Trust Co now owns 36,571 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 2,018 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Sunstone Hotel Investors by 6.1% during the first quarter. ProShare Advisors LLC now owns 41,451 shares of the real estate investment trust’s stock valued at $462,000 after acquiring an additional 2,388 shares in the last quarter. Institutional investors own 99.37% of the company’s stock.

Analyst Ratings Changes

SHO has been the topic of several recent analyst reports. Wolfe Research upgraded shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Wednesday, July 10th. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target on the stock in a research report on Friday, September 13th. Finally, StockNews.com downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.42.

Sunstone Hotel Investors Stock Up 0.9 %

Shares of Sunstone Hotel Investors stock opened at $10.22 on Tuesday. Sunstone Hotel Investors, Inc. has a 1 year low of $9.30 and a 1 year high of $11.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.75 and a quick ratio of 3.75. The company has a 50-day moving average of $10.28 and a 200 day moving average of $10.24. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 5.87 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). The business had revenue of $247.50 million for the quarter, compared to analysts’ expectations of $248.12 million. Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. Sunstone Hotel Investors’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 earnings per share. As a group, sell-side analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio is presently 39.02%.

Sunstone Hotel Investors 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.