Sunstone Hotel Investors (NYSE:SHO) Price Target Raised to $13.00

Sunstone Hotel Investors (NYSE:SHO) had its price target lifted by Truist Financial from $12.00 to $13.00 in a report released on Thursday, Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on SHO. Wells Fargo & Company raised their target price on Sunstone Hotel Investors from $9.50 to $10.00 and gave the company an underweight rating in a report on Friday, December 22nd. JPMorgan Chase & Co. upgraded Sunstone Hotel Investors from an underweight rating to a neutral rating and upped their price objective for the company from $9.00 to $10.00 in a research report on Thursday, December 14th. Finally, StockNews.com lowered Sunstone Hotel Investors from a hold rating to a sell rating in a research note on Wednesday, March 13th. Four analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $10.00.

Sunstone Hotel Investors Stock Performance

Shares of SHO traded up $0.05 during mid-day trading on Thursday, hitting $11.05. 1,261,822 shares of the company’s stock were exchanged, compared to its average volume of 1,967,972. The firm has a market capitalization of $2.25 billion, a P/E ratio of 11.88, a P/E/G ratio of 4.36 and a beta of 1.21. Sunstone Hotel Investors has a fifty-two week low of $8.60 and a fifty-two week high of $11.59. The business’s 50 day moving average is $10.91 and its two-hundred day moving average is $10.17. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.16 by $0.44. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The business had revenue of $219.20 million during the quarter, compared to analysts’ expectations of $192.56 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities analysts expect that Sunstone Hotel Investors will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio is presently 25.81%.

Institutional Investors Weigh In On Sunstone Hotel Investors

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Sunstone Hotel Investors by 9.0% during the 3rd quarter. Vanguard Group Inc. now owns 34,473,209 shares of the real estate investment trust’s stock worth $324,738,000 after buying an additional 2,843,715 shares during the period. State Street Corp increased its stake in shares of Sunstone Hotel Investors by 26.5% in the third quarter. State Street Corp now owns 13,652,726 shares of the real estate investment trust’s stock worth $129,260,000 after buying an additional 2,863,572 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Sunstone Hotel Investors by 14.7% in the second quarter. Franklin Resources Inc. now owns 10,315,334 shares of the real estate investment trust’s stock worth $104,391,000 after buying an additional 1,321,934 shares during the last quarter. Rush Island Management LP increased its stake in shares of Sunstone Hotel Investors by 30.3% in the third quarter. Rush Island Management LP now owns 9,579,732 shares of the real estate investment trust’s stock worth $89,570,000 after buying an additional 2,225,579 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its position in shares of Sunstone Hotel Investors by 6.1% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,896,273 shares of the real estate investment trust’s stock worth $49,550,000 after purchasing an additional 280,067 shares during the last quarter.

Sunstone Hotel Investors Company 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.