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

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Sunstone Hotel Investors, buying 159,804 shares valued at approximately $1.5 million, increasing their ownership to 0.08% of the company.
• Analysts have mixed views on Sunstone Hotel Investors, with two sell ratings, three hold ratings, and two buy ratings, while their average price target is around $9.07.
• Sunstone Hotel Investors reported $0.21 earnings per share for the last quarter, exceeding expectations, and announced a quarterly dividend of $0.09 per share, yielding 4.2% annually.

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

A number of other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sunstone Hotel Investors in the 4th quarter valued at $33,000. GF Fund Management CO. LTD. acquired a new position in Sunstone Hotel Investors in the fourth quarter worth about $42,000. GAMMA Investing LLC lifted its stake in Sunstone Hotel Investors by 47.7% during the first quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 1,560 shares during the period. Sterling Capital Management LLC boosted its holdings in Sunstone Hotel Investors by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock valued at $76,000 after purchasing an additional 5,701 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in shares of Sunstone Hotel Investors in the 1st quarter valued at approximately $124,000. 99.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHO. Jefferies Financial Group cut their target price 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 target price on shares of Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating on the stock in a research note on Tuesday, July 1st. Evercore ISI upped their target price on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Bank of America raised shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price target for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. began coverage on shares of Sunstone Hotel Investors in a research report on Monday, June 23rd. They issued an "underweight" rating and a $8.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $9.07.

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock opened at $8.64 on Friday. The stock has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $9.43. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 86.40, a P/E/G ratio of 1.91 and a beta of 1.30. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.47. Sunstone Hotel Investors, Inc. has a 12-month low of $7.45 and a 12-month high of $12.41.

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

Sunstone Hotel Investors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date 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.

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