Bank of New York Mellon Corp sells 118,796 shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Bank of New York Mellon Corp reduced its stake in Sunstone Hotel Investors, Inc. (NYSE:SHO – Free Report) by 3.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,341,804 shares of the real estate investment trust’s stock after selling 118,796 shares during the quarter. Bank of New York Mellon Corp owned 1.64% of Sunstone Hotel Investors worth $34,955,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SHO. EntryPoint Capital LLC acquired a new stake in Sunstone Hotel Investors in the 1st quarter worth $30,000. Plato Investment Management Ltd purchased a new stake in shares of Sunstone Hotel Investors in the 1st quarter valued at approximately $49,000. 1620 Investment Advisors Inc. bought a new stake in Sunstone Hotel Investors in the second quarter valued at approximately $52,000. Quadrant Capital Group LLC boosted its stake in Sunstone Hotel Investors by 35.4% during the 4th quarter. Quadrant Capital Group LLC now owns 5,305 shares of the real estate investment trust’s stock worth $57,000 after buying another 1,387 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Sunstone Hotel Investors by 342.9% in the second quarter. Blue Trust Inc. now owns 7,406 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 5,734 shares during the last quarter. Institutional investors and hedge funds own 99.37% of the company’s shares.

Sunstone Hotel Investors Price Performance

Shares of Sunstone Hotel Investors stock opened at $10.43 on Tuesday. Sunstone Hotel Investors, Inc. it has a 52-week low of $8.78 and a 52-week high of $11.59. The company’s 50-day moving average price is $10.20, and its two-hundred-day moving average price is $10.47. The stock has a market cap of $2.12 billion, a P/E ratio of 11.59, a P/E/G ratio of 4.36 and a beta of 1.24. The company has a quick ratio of 3.75, a current ratio of 3.75, and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The business had revenue of $247.50 million for the quarter, compared to the consensus estimate of $248.12 million. Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The company’s revenue was down 10.4% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $0.33 per share. On average, equities analysts predict that Sunstone Hotel Investors, Inc. will post 0.89 earnings per share for the current year.

Sunstone Hotel Investors announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, September 30. This represents a dividend of $0.36 on an annualized basis and a yield of 3.45%. Sunstone Hotel Investors’ dividend payout ratio (DPR) is currently 33.33%.

Analyst upgrades and downgrades

SHO has been the subject of a number of research reports. Compass Point raised Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and upped their target price for the stock from $10.00 to $12.00 in a research report on Tuesday. May 7. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Baird RW upgraded shares of Sunstone Hotel Investors to a “strong-buy” rating in a report on Tuesday, May 28th. Wolfe Research upgraded Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Wednesday, July 10th. Finally, Truist Financial decreased their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Sunstone Hotel Investors currently has a consensus rating of “Hold” and an average price target of $11.00, according to MarketBeat.com.

Check out the latest stock analysis on SHO

About Sunstone Hotel Investors

(Free report)

Sunstone Hotel Investors, Inc is a real estate investment trust (“REIT”) that, as of this date, owns 14 hotels consisting of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone’s strategy is to create long-term value for stakeholders through the acquisition, active ownership and disposition of well-located hotel and resort real estate.

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