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

Bank of New York Mellon Corp lessened its holdings in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 3.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,636,662 shares of the real estate investment trust's stock after selling 66,102 shares during the quarter. Bank of New York Mellon Corp owned about 0.81% of Sunstone Hotel Investors worth $15,401,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Sunstone Hotel Investors by 5.2% in the first quarter. Principal Financial Group Inc. now owns 8,793,005 shares of the real estate investment trust's stock valued at $82,742,000 after buying an additional 437,433 shares during the period. Bank of America Corp DE raised its position in Sunstone Hotel Investors by 23.0% during the fourth quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust's stock valued at $77,760,000 after buying an additional 1,229,769 shares during the period. Northern Trust Corp increased its position in Sunstone Hotel Investors by 20.5% in the 4th quarter. Northern Trust Corp now owns 3,159,408 shares of the real estate investment trust's stock worth $37,407,000 after purchasing an additional 538,089 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Sunstone Hotel Investors by 8.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,853,280 shares of the real estate investment trust's stock worth $33,783,000 after acquiring an additional 228,812 shares in the last quarter. Finally, H 2 Credit Manager LP boosted its stake in shares of Sunstone Hotel Investors by 27.4% during the 4th quarter. H 2 Credit Manager LP now owns 2,788,210 shares of the real estate investment trust's stock worth $33,012,000 after acquiring an additional 600,000 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company's stock.

Sunstone Hotel Investors Stock Performance

Shares of NYSE:SHO traded up $0.20 during trading on Tuesday, reaching $9.05. 679,318 shares of the stock were exchanged, compared to its average volume of 2,497,656. Sunstone Hotel Investors, Inc. has a 12 month low of $7.45 and a 12 month high of $12.41. The firm has a market cap of $1.80 billion, a PE ratio of 90.45, a PEG ratio of 2.21 and a beta of 1.25. The stock has a 50-day moving average price of $8.86 and a 200-day moving average price of $9.62. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.47.

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

Sunstone Hotel Investors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Monday, June 30th. Sunstone Hotel Investors's payout ratio is 360.00%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SHO. Jefferies Financial Group reduced their price objective on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. 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. Morgan Stanley reduced their target price on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. assumed coverage on Sunstone Hotel Investors in a report on Monday, June 23rd. They set an "underweight" rating and a $8.00 target price on the stock. Finally, Evercore ISI upgraded Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price objective on the stock in a research note on Friday, May 16th. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $8.93.

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.