Principal Financial Group Inc. Acquires 1,422,768 Shares of Sunstone Hotel Investors Inc (SHO)

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Principal Financial Group Inc. grew its holdings in shares of Sunstone Hotel Investors Inc (NYSE:SHO) by 11.8% during the fourth quarter, HoldingsChannel reports. The firm owned 13,432,836 shares of the real estate investment trust’s stock after purchasing an additional 1,422,768 shares during the period. Principal Financial Group Inc. owned 0.06% of Sunstone Hotel Investors worth $174,762,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Sunstone Hotel Investors by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 32,870,417 shares of the real estate investment trust’s stock valued at $537,760,000 after purchasing an additional 227,233 shares in the last quarter. Vanguard Group Inc grew its stake in Sunstone Hotel Investors by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 32,870,417 shares of the real estate investment trust’s stock valued at $537,760,000 after buying an additional 227,233 shares during the last quarter. BlackRock Inc. grew its stake in Sunstone Hotel Investors by 2.4% in the 3rd quarter. BlackRock Inc. now owns 23,556,116 shares of the real estate investment trust’s stock valued at $385,377,000 after buying an additional 549,531 shares during the last quarter. PGGM Investments grew its stake in Sunstone Hotel Investors by 124.8% in the 4th quarter. PGGM Investments now owns 11,977,005 shares of the real estate investment trust’s stock valued at $155,821,000 after buying an additional 6,650,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Sunstone Hotel Investors by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,075,684 shares of the real estate investment trust’s stock valued at $115,759,000 after buying an additional 54,790 shares during the last quarter.

NYSE:SHO opened at $14.69 on Tuesday. The stock has a market cap of $3.34 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 2.28 and a beta of 1.15. Sunstone Hotel Investors Inc has a 52 week low of $12.70 and a 52 week high of $17.60. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 0.40.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Tuesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $280.85 million during the quarter, compared to the consensus estimate of $275.14 million. Sunstone Hotel Investors had a net margin of 21.61% and a return on equity of 10.02%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. On average, equities research analysts expect that Sunstone Hotel Investors Inc will post 1.07 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, March 28th. Sunstone Hotel Investors’s dividend payout ratio is presently 184.62%.

A number of research analysts recently issued reports on SHO shares. Barclays lowered shares of Sunstone Hotel Investors from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $18.00 to $16.00 in a research note on Tuesday, December 18th. Deutsche Bank reiterated a “hold” rating and issued a $16.00 target price on shares of Sunstone Hotel Investors in a research note on Thursday, February 14th. Finally, Zacks Investment Research upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Saturday, January 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $16.83.

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Sunstone Hotel Investors Profile

Sunstone Hotel Investors, Inc is a real estate investment trust, which engages in the acquisition, ownership, asset management and renovation of hotels and resorts. It operates under the following brands: Marriott, Hilton, and Hyatt. The company was founded by Robert A. Alter in 1985 and is headquartered in Aliso Viejo, CA.

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

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