Wells Fargo & Company MN Acquires 107,435 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Wells Fargo & Company MN increased its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 51.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 318,223 shares of the real estate investment trust's stock after buying an additional 107,435 shares during the quarter. Wells Fargo & Company MN owned 0.16% of Sunstone Hotel Investors worth $3,768,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SHO. Principal Financial Group Inc. grew its stake in Sunstone Hotel Investors by 645.6% in the 4th quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust's stock valued at $98,929,000 after buying an additional 7,234,862 shares in the last quarter. Centersquare Investment Management LLC purchased a new position in Sunstone Hotel Investors during the fourth quarter valued at approximately $15,653,000. JPMorgan Chase & Co. increased its holdings in Sunstone Hotel Investors by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust's stock worth $49,284,000 after acquiring an additional 1,130,558 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its stake in Sunstone Hotel Investors by 22.2% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust's stock worth $55,488,000 after purchasing an additional 851,104 shares in the last quarter. Finally, Norges Bank bought a new position in Sunstone Hotel Investors in the 4th quarter valued at $8,659,000. Hedge funds and other institutional investors own 99.37% of the company's stock.

Sunstone Hotel Investors Trading Up 0.2 %

Sunstone Hotel Investors stock traded up $0.02 during trading hours on Thursday, reaching $8.05. The stock had a trading volume of 2,835,462 shares, compared to its average volume of 2,330,947. The stock has a market cap of $1.62 billion, a PE ratio of 10.59, a PEG ratio of 4.52 and a beta of 1.16. The company has a fifty day simple moving average of $9.51 and a 200-day simple moving average of $10.59. 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, 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 posted its quarterly earnings data on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $214.77 million for the quarter, compared to analysts' expectations of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Analysts forecast that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date was Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio is 257.14%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SHO shares. Truist Financial lowered their price objective on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company dropped their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Morgan Stanley decreased their price target on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday. Finally, 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 note on Wednesday, April 9th. Two equities 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, Sunstone Hotel Investors presently has an average rating of "Hold" and an average target price of $10.57.

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.