JPMorgan Chase & Co. Raises Stock Position in Sunstone Hotel Investors, Inc. (NYSE:SHO)

JPMorgan Chase & Co. increased its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 31.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,775,533 shares of the real estate investment trust's stock after buying an additional 1,130,558 shares during the period. JPMorgan Chase & Co. owned about 2.38% of Sunstone Hotel Investors worth $49,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SHO. New York State Teachers Retirement System raised its position in shares of Sunstone Hotel Investors by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 294,316 shares of the real estate investment trust's stock worth $3,037,000 after acquiring an additional 1,386 shares in the last quarter. Van ECK Associates Corp raised its holdings in Sunstone Hotel Investors by 5.5% in the second quarter. Van ECK Associates Corp now owns 31,119 shares of the real estate investment trust's stock worth $326,000 after purchasing an additional 1,635 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Sunstone Hotel Investors by 12.1% during the second quarter. Evergreen Capital Management LLC now owns 17,479 shares of the real estate investment trust's stock valued at $184,000 after buying an additional 1,881 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Sunstone Hotel Investors by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust's stock valued at $80,000 after buying an additional 1,937 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of Sunstone Hotel Investors by 7.0% in the 2nd quarter. Truist Financial Corp now owns 47,223 shares of the real estate investment trust's stock worth $494,000 after buying an additional 3,098 shares during the last quarter. Hedge funds and other institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock traded up $0.14 during mid-day trading on Friday, reaching $11.79. 1,614,622 shares of the company traded hands, compared to its average volume of 1,415,261. The firm's fifty day moving average is $11.21 and its two-hundred day moving average is $10.58. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 6.45 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $12.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm had revenue of $226.40 million during the quarter, compared to analyst estimates of $224.61 million. During the same period in the previous year, the company earned $0.23 earnings per share. Sunstone Hotel Investors's revenue was down 8.6% on a year-over-year basis. On average, equities research 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors's dividend payout ratio (DPR) is 44.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SHO shares. Jefferies Financial Group increased their target price on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a "hold" rating in a research report on Thursday. Wells Fargo & Company increased their price objective on Sunstone Hotel Investors from $11.00 to $13.00 and gave the company an "equal weight" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.17.

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.