OVERSEA CHINESE BANKING Corp Ltd Takes Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 159,804 shares of the real estate investment trust's stock, valued at approximately $1,504,000. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.08% of Sunstone Hotel Investors as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sunstone Hotel Investors in the fourth quarter worth about $33,000. GF Fund Management CO. LTD. acquired a new stake in Sunstone Hotel Investors in the fourth quarter worth about $42,000. GAMMA Investing LLC boosted its holdings in Sunstone Hotel Investors by 47.7% in the first quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 1,560 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Sunstone Hotel Investors by 805.2% in the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock worth $76,000 after acquiring an additional 5,701 shares in the last quarter. Finally, FIL Ltd boosted its holdings in Sunstone Hotel Investors by 140.2% in the fourth quarter. FIL Ltd now owns 11,365 shares of the real estate investment trust's stock worth $135,000 after acquiring an additional 6,634 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company's stock.

Analysts Set New Price Targets

SHO has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating for the company in a report on Tuesday, July 1st. Bank of America raised Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 target price for the company in a report on Wednesday, April 30th. Morgan Stanley decreased their target price on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Truist Financial decreased their target price on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a report on Friday, March 21st. Finally, Jefferies Financial Group decreased their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $8.93.

Sunstone Hotel Investors Stock Performance

SHO stock traded up $0.06 during trading on Friday, hitting $8.86. 1,260,293 shares of the company traded hands, compared to its average volume of 2,498,797. The stock's 50-day simple moving average is $8.85 and its 200 day simple moving average is $9.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.89 and a quick ratio of 2.89. The company has a market cap of $1.76 billion, a PE ratio of 88.75, a P/E/G ratio of 2.21 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 1 year low of $7.45 and a 1 year high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The company 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%. Sunstone Hotel Investors's quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Monday, June 30th. Sunstone Hotel Investors's dividend payout ratio (DPR) is presently 360.00%.

Sunstone Hotel Investors Company 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.