Bank of New York Mellon Corp Grows Stake in Sunstone Hotel Investors, Inc. (SHO)

Bank of New York Mellon Corp lifted its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,015,386 shares of the real estate investment trust’s stock after purchasing an additional 269,167 shares during the period. Bank of New York Mellon Corp owned about 2.67% of Sunstone Hotel Investors worth $96,667,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its stake in shares of Sunstone Hotel Investors by 3.2% during the second quarter. Ameritas Investment Partners Inc. now owns 19,388 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 609 shares in the last quarter. Global Endowment Management LP purchased a new stake in Sunstone Hotel Investors during the 2nd quarter valued at about $3,096,000. C M Bidwell & Associates Ltd. grew its stake in Sunstone Hotel Investors by 51.9% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 20,790 shares of the real estate investment trust’s stock valued at $335,000 after acquiring an additional 7,100 shares in the last quarter. Legal & General Group Plc grew its stake in Sunstone Hotel Investors by 22.7% during the 2nd quarter. Legal & General Group Plc now owns 671,442 shares of the real estate investment trust’s stock valued at $10,829,000 after acquiring an additional 124,144 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Sunstone Hotel Investors by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 37,717,053 shares of the real estate investment trust’s stock valued at $607,999,000 after acquiring an additional 1,619,745 shares in the last quarter.

Sunstone Hotel Investors, Inc. (NYSE SHO) traded up $0.13 during trading hours on Friday, reaching $16.61. 956,634 shares of the company’s stock traded hands, compared to its average volume of 1,230,363. The company has a quick ratio of 4.75, a current ratio of 4.76 and a debt-to-equity ratio of 0.40. The firm has a market cap of $3,742.60, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 2.78 and a beta of 1.11. Sunstone Hotel Investors, Inc. has a 12 month low of $14.06 and a 12 month high of $17.15.

Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.18. The company had revenue of $303.91 million for the quarter, compared to analyst estimates of $299.90 million. Sunstone Hotel Investors had a net margin of 13.78% and a return on equity of 6.20%. Sunstone Hotel Investors’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. sell-side analysts anticipate that Sunstone Hotel Investors, Inc. will post 1.2 EPS for the current year.

Several analysts recently issued reports on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of Sunstone Hotel Investors in a research note on Wednesday, November 1st. BidaskClub cut shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. FBR & Co reaffirmed a “hold” rating on shares of Sunstone Hotel Investors in a research note on Tuesday, October 31st. Zacks Investment Research raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $17.00 price objective on shares of Sunstone Hotel Investors in a research note on Thursday, September 21st. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.89.

ILLEGAL ACTIVITY WARNING: “Bank of New York Mellon Corp Grows Stake in Sunstone Hotel Investors, Inc. (SHO)” was posted by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://transcriptdaily.com/2017/11/26/bank-of-new-york-mellon-corp-grows-stake-in-sunstone-hotel-investors-inc-sho.html.

Sunstone Hotel Investors Company Profile

Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust. The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. It operates through hotel ownership segment. It owns primarily urban and resort upper upscale hotels in the United States.

Institutional Ownership by Quarter for Sunstone Hotel Investors (NYSE:SHO)

Receive News & Ratings for Sunstone Hotel Investors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunstone Hotel Investors Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply