Mirae Asset Global Investments Co. Ltd. Increases Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Mirae Asset Global Investments Co. Ltd. lifted its position in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 34.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,510 shares of the real estate investment trust’s stock after purchasing an additional 1,937 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Sunstone Hotel Investors were worth $80,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in Sunstone Hotel Investors in the first quarter valued at about $30,000. Federated Hermes Inc. bought a new position in shares of Sunstone Hotel Investors in the 2nd quarter worth approximately $34,000. Quarry LP lifted its stake in shares of Sunstone Hotel Investors by 584.1% in the 2nd quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 3,680 shares during the period. Plato Investment Management Ltd purchased a new position in shares of Sunstone Hotel Investors in the first quarter worth approximately $49,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Sunstone Hotel Investors during the second quarter valued at approximately $52,000. Institutional investors own 99.37% of the company’s stock.

Sunstone Hotel Investors Stock Up 0.9 %

Shares of SHO stock opened at $10.22 on Tuesday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 5.87 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.75 and a quick ratio of 3.75. The company’s fifty day moving average price is $10.28 and its 200-day moving average price is $10.24. Sunstone Hotel Investors, Inc. has a one year low of $9.30 and a one year high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.16). Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The business had revenue of $247.50 million during the quarter, compared to analysts’ expectations of $248.12 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Sunstone Hotel Investors’s revenue was down 10.4% on a year-over-year basis. Sell-side analysts expect that Sunstone Hotel Investors, Inc. will post 0.85 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 39.02%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wolfe Research upgraded shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a report on Friday, September 13th. Finally, StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.42.

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.