Van ECK Associates Corp Boosts Holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO)

Van ECK Associates Corp boosted its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,956 shares of the real estate investment trust’s stock after acquiring an additional 3,837 shares during the period. Van ECK Associates Corp’s holdings in Sunstone Hotel Investors were worth $353,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in shares of Sunstone Hotel Investors by 368.0% in the 2nd quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock worth $18,489,000 after purchasing an additional 1,389,917 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Sunstone Hotel Investors by 318.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,367,061 shares of the real estate investment trust’s stock valued at $14,299,000 after buying an additional 1,039,986 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Sunstone Hotel Investors during the 2nd quarter valued at $2,165,000. Russell Investments Group Ltd. grew its stake in shares of Sunstone Hotel Investors by 572.0% during the 1st quarter. Russell Investments Group Ltd. now owns 219,000 shares of the real estate investment trust’s stock worth $2,440,000 after acquiring an additional 186,413 shares during the period. Finally, Hantz Financial Services Inc. purchased a new stake in Sunstone Hotel Investors in the 2nd quarter worth about $1,664,000. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Trading Down 3.5 %

Shares of Sunstone Hotel Investors stock opened at $10.51 on Wednesday. The company’s 50-day moving average price is $10.33 and its 200-day moving average price is $10.25. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 6.29 and a beta of 1.25. Sunstone Hotel Investors, Inc. has a 12-month low of $9.39 and a 12-month high of $11.59. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SHO shares. StockNews.com downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target on the stock in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have given 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.com, the company has a consensus 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.