Sunstone Hotel Investors, Inc. (NYSE:SHO) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 645.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,355,572 shares of the real estate investment trust’s stock after purchasing an additional 7,234,862 shares during the period. Principal Financial Group Inc.’s holdings in Sunstone Hotel Investors were worth $98,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Sunstone Hotel Investors by 2.1% during the third quarter. Geode Capital Management LLC now owns 5,247,927 shares of the real estate investment trust’s stock worth $54,169,000 after purchasing an additional 109,327 shares during the period. JPMorgan Chase & Co. raised its position in Sunstone Hotel Investors by 31.0% in the third quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock worth $49,284,000 after acquiring an additional 1,130,558 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Sunstone Hotel Investors by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,081,978 shares of the real estate investment trust’s stock worth $42,126,000 after acquiring an additional 117,390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Sunstone Hotel Investors by 460.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,372 shares of the real estate investment trust’s stock worth $14,596,000 after acquiring an additional 1,161,792 shares in the last quarter. Finally, Heitman Real Estate Securities LLC raised its position in Sunstone Hotel Investors by 976.5% in the third quarter. Heitman Real Estate Securities LLC now owns 1,238,002 shares of the real estate investment trust’s stock worth $12,776,000 after acquiring an additional 1,123,001 shares in the last quarter. 99.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group increased their price objective on Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Morgan Stanley reiterated an “underweight” rating and issued a $10.00 price objective on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company cut their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.71.

Sunstone Hotel Investors Trading Up 2.2 %

Shares of SHO stock opened at $11.45 on Wednesday. Sunstone Hotel Investors, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $12.41. The stock has a market cap of $2.30 billion, a P/E ratio of 15.06, a P/E/G ratio of 3.78 and a beta of 1.20. The business has a fifty day simple moving average of $11.70 and a 200-day simple moving average of $10.85. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44.

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.