159,804 Shares in Sunstone Hotel Investors, Inc. (NYSE:SHO) Acquired by OVERSEA CHINESE BANKING Corp Ltd

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 acquired a new stake in shares of 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 acquired 159,804 shares of the real estate investment trust's stock, valued at approximately $1,504,000. OVERSEA CHINESE BANKING Corp Ltd owned about 0.08% of Sunstone Hotel Investors as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sunstone Hotel Investors in the fourth quarter valued at $33,000. GF Fund Management CO. LTD. bought a new stake in Sunstone Hotel Investors in the fourth quarter worth about $42,000. GAMMA Investing LLC grew its stake in shares of 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 valued at $45,000 after buying an additional 1,560 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of 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 buying an additional 5,701 shares during the period. Finally, Federated Hermes Inc. bought a new stake in shares of Sunstone Hotel Investors during the 1st quarter worth approximately $124,000. 99.37% of the stock is currently owned by institutional investors.

Sunstone Hotel Investors Stock Down 2.2%

NYSE SHO traded down $0.20 on Wednesday, hitting $8.58. The stock had a trading volume of 1,968,981 shares, compared to its average volume of 2,366,031. The business's fifty day moving average price is $8.86 and its 200 day moving average price is $9.39. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 85.35, a price-to-earnings-growth ratio of 1.94 and a beta of 1.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.89 and a quick ratio of 2.89. Sunstone Hotel Investors, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. During the same quarter in the prior year, the business posted $0.28 EPS. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SHO shares. Wells Fargo & Company cut their price objective 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. Evercore ISI upped their price target 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. JPMorgan Chase & Co. initiated coverage on shares of Sunstone Hotel Investors in a report on Monday, June 23rd. They set an "underweight" rating and a $8.00 price objective for the company. Bank of America raised shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price objective for the company in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group reduced their target price on shares of 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $9.07.

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.