State of New Jersey Common Pension Fund D Grows Stake in Sunstone Hotel Investors, Inc. (NYSE:SHO)

State of New Jersey Common Pension Fund D lifted its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 8.8% in the fourth quarter, Holdings Channel reports. The firm owned 208,664 shares of the real estate investment trust’s stock after buying an additional 16,829 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Sunstone Hotel Investors were worth $2,471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Heritage Family Offices LLP increased its stake in shares of Sunstone Hotel Investors by 7.2% during the fourth quarter. Heritage Family Offices LLP now owns 14,409 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 969 shares in the last quarter. Vanderbilt University increased its stake in shares of Sunstone Hotel Investors by 9.4% during the fourth quarter. Vanderbilt University now owns 14,808 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 1,276 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Sunstone Hotel Investors by 0.5% during the third 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 purchasing an additional 1,386 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Sunstone Hotel Investors by 114.1% during the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 1,743 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Sunstone Hotel Investors by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 1,937 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Morgan Stanley restated an “underweight” rating and set a $10.00 price target on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group boosted their price target on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.71.

Sunstone Hotel Investors Price Performance

Sunstone Hotel Investors stock opened at $11.32 on Friday. The company’s 50 day simple moving average is $11.67 and its 200-day simple moving average is $10.85. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 4.58 and a beta of 1.20. Sunstone Hotel Investors, Inc. has a 1 year low of $9.39 and a 1 year high of $12.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98.

Sunstone Hotel Investors 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.