Truist Financial Boosts Sunstone Hotel Investors (NYSE:SHO) Price Target to $13.00

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

SHO has been the subject of several other reports. StockNews.com downgraded shares of Sunstone Hotel Investors from a hold rating to a sell rating in a research note on Wednesday, March 13th. Wells Fargo & Company lifted their price objective on shares of Sunstone Hotel Investors from $9.50 to $10.00 and gave the stock an underweight rating in a research note on Friday, December 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Sunstone Hotel Investors from an underweight rating to a neutral rating and lifted their price objective for the stock from $9.00 to $10.00 in a research note on Thursday, December 14th. Four investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Sunstone Hotel Investors currently has an average rating of Hold and an average target price of $10.00.

Sunstone Hotel Investors Stock Up 0.5 %

SHO stock traded up $0.05 during trading on Thursday, hitting $11.05. 1,261,822 shares of the company’s stock traded hands, 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 PEG ratio of 4.36 and a beta of 1.21. The business has a fifty day simple moving average of $10.91 and a two-hundred day simple moving average of $10.17. The company has a quick ratio of 7.03, a current ratio of 7.03 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors has a 1 year low of $8.60 and a 1 year high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.44. The company had revenue of $219.20 million for the quarter, compared to analyst estimates of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. Sunstone Hotel Investors’s revenue was down 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. Sell-side analysts anticipate that Sunstone Hotel Investors will post 0.85 EPS for the current year.

Sunstone Hotel Investors Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in Sunstone Hotel Investors by 15.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 100,114 shares of the real estate investment trust’s stock valued at $1,075,000 after buying an additional 13,057 shares in the last quarter. Legal & General Group Plc increased its holdings in Sunstone Hotel Investors by 4.4% in the fourth quarter. Legal & General Group Plc now owns 3,326,228 shares of the real estate investment trust’s stock valued at $35,690,000 after buying an additional 140,568 shares in the last quarter. Wexford Capital LP purchased a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth about $215,000. Barclays PLC increased its stake in shares of Sunstone Hotel Investors by 213.2% during the fourth quarter. Barclays PLC now owns 333,158 shares of the real estate investment trust’s stock worth $3,574,000 after purchasing an additional 226,771 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth about $396,000.

About Sunstone Hotel Investors

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.