Wells Fargo & Company MN Has $3.77 Million Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)
Wells Fargo & Company MN increased its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 51% in Q4, owning 318,223 shares valued at approximately $3.77 million. Other institutional investors also adjusted their positions. Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $11.00. Sunstone's shares opened at $8.21, with a 52-week range of $7.45 to $12.41. The company recently reported earnings of $0.16 per share, exceeding estimates, and announced a quarterly dividend of $0.09.
Wells Fargo & Company MN raised its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO - Free Report) by 51.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,223 shares of the real estate investment trust's stock after purchasing an additional 107,435 shares during the period. Wells Fargo & Company MN owned 0.16% of Sunstone Hotel Investors worth $3,768,000 as of its most recent SEC filing.
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Several other institutional investors have also made changes to their positions in the company. Resona Asset Management Co. Ltd. acquired a new stake in Sunstone Hotel Investors in the fourth quarter valued at approximately $952,000. Centersquare Investment Management LLC bought a new stake in Sunstone Hotel Investors in the fourth quarter worth $15,653,000. Pitcairn Co. increased its position in Sunstone Hotel Investors by 9.2% during the fourth quarter. Pitcairn Co. now owns 31,473 shares of the real estate investment trust's stock worth $373,000 after buying an additional 2,649 shares during the last quarter. ExodusPoint Capital Management LP raised its holdings in Sunstone Hotel Investors by 9.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 1,242,045 shares of the real estate investment trust's stock valued at $14,706,000 after buying an additional 106,756 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Sunstone Hotel Investors by 6.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 271,125 shares of the real estate investment trust's stock worth $3,210,000 after acquiring an additional 17,225 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. Morgan Stanley reaffirmed an "underweight" rating and set a $10.00 target price on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Jefferies Financial Group decreased their price target on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Truist Financial dropped their price objective on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. Finally, Wells Fargo & Company lowered their target price on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $11.00.
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View Our Latest Report on Sunstone Hotel Investors
Sunstone Hotel Investors Trading Down 0.4 %
Shares of Sunstone Hotel Investors stock opened at $8.21 on Tuesday. Sunstone Hotel Investors, Inc. has a 52-week low of $7.45 and a 52-week high of $12.41. The firm has a market capitalization of $1.65 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 4.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. The company's fifty day moving average price is $9.63 and its two-hundred day moving average price is $10.63.
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Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 18.61% and a return on equity of 9.04%. On average, analysts expect that Sunstone Hotel Investors, Inc. will post 0.79 EPS for the current year.
Sunstone Hotel Investors Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.09 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.36 annualized dividend and a dividend yield of 4.38%. Sunstone Hotel Investors's dividend payout ratio is presently 257.14%.
Sunstone Hotel Investors Profile
(Free Report)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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