Bank of New York Mellon Corp Sells 756,273 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Bank of New York Mellon Corp decreased its position in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 30.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,702,764 shares of the real estate investment trust's stock after selling 756,273 shares during the quarter. Bank of New York Mellon Corp owned about 0.85% of Sunstone Hotel Investors worth $20,161,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Heritage Family Offices LLP lifted its holdings in shares of Sunstone Hotel Investors by 7.2% during the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust's stock worth $171,000 after buying an additional 969 shares during the last quarter. Vanderbilt University lifted its holdings in shares of Sunstone Hotel Investors by 9.4% during the fourth quarter. Vanderbilt University now owns 14,808 shares of the real estate investment trust's stock worth $175,000 after buying an additional 1,276 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Sunstone Hotel Investors by 114.1% in the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 1,743 shares in the last quarter. KBC Group NV raised its stake in shares of Sunstone Hotel Investors by 55.4% in the fourth quarter. KBC Group NV now owns 9,118 shares of the real estate investment trust's stock valued at $108,000 after purchasing an additional 3,249 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Sunstone Hotel Investors by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 38,526 shares of the real estate investment trust's stock valued at $456,000 after purchasing an additional 3,570 shares in the last quarter. Institutional investors own 99.37% of the company's stock.

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Analysts Set New Price Targets

Several analysts have recently commented on the company. Morgan Stanley restated an "underweight" rating and set a $10.00 target price on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Jefferies Financial Group raised their price target on Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a "hold" rating in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company dropped their target price on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $11.71.

Sunstone Hotel Investors Stock Performance

Shares of NYSE SHO traded up $0.24 during midday trading on Friday, hitting $9.76. 1,418,829 shares of the company's stock were exchanged, compared to its average volume of 2,111,586. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. Sunstone Hotel Investors, Inc. has a 12 month low of $9.23 and a 12 month high of $12.41. The company's 50 day moving average price is $11.15 and its 200 day moving average price is $10.90. The firm has a market capitalization of $1.96 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 4.52 and a beta of 1.19.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $214.77 million during the quarter, compared to the consensus estimate of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. As a group, analysts predict that Sunstone Hotel Investors, Inc. will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.09 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.36 annualized dividend and a yield of 3.69%. Sunstone Hotel Investors's dividend payout ratio is presently 257.14%.

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.