Bank of New York Mellon Corp Has $15.40 Million Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Bank of New York Mellon Corp trimmed its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 3.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,636,662 shares of the real estate investment trust’s stock after selling 66,102 shares during the period. Bank of New York Mellon Corp owned 0.81% of Sunstone Hotel Investors worth $15,401,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV bought a new position in Sunstone Hotel Investors in the 4th quarter valued at $190,000. GAMMA Investing LLC boosted its position in Sunstone Hotel Investors by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,560 shares during the last quarter. Xponance Inc. boosted its position in Sunstone Hotel Investors by 10.9% in the 4th quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust’s stock valued at $174,000 after buying an additional 1,441 shares during the last quarter. Natixis Advisors LLC boosted its position in Sunstone Hotel Investors by 19.0% in the 4th quarter. Natixis Advisors LLC now owns 84,116 shares of the real estate investment trust’s stock valued at $996,000 after buying an additional 13,446 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Sunstone Hotel Investors in the 4th quarter valued at $475,000. 99.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America upgraded Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, April 30th. Jefferies Financial Group reduced their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley reduced their price target on Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company reduced their price target on Sunstone Hotel Investors from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Tuesday, July 1st. Finally, Evercore ISI upgraded Sunstone Hotel Investors from an “in-line” rating to an “outperform” rating and set a $10.00 price target on the stock in a research report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.93.

Sunstone Hotel Investors Trading Up 0.9%

Sunstone Hotel Investors stock opened at $8.88 on Friday. Sunstone Hotel Investors, Inc. has a 52 week low of $7.45 and a 52 week high of $12.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.89 and a current ratio of 2.89. The stock has a market capitalization of $1.77 billion, a P/E ratio of 88.80, a PEG ratio of 2.21 and a beta of 1.25. The stock has a 50-day simple moving average of $8.86 and a 200 day simple moving average of $9.64.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The company had revenue of $234.07 million during the quarter, compared to analysts’ expectations of $243.34 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 4.05%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 360.00%.

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.