Sunstone Hotel Investors (NYSE:SHO) Price Target Lowered to $11.00 at Truist Financial

Sunstone Hotel Investors (NYSE:SHO) had its price objective trimmed by Truist Financial from $12.00 to $11.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company dropped their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Jefferies Financial Group boosted their price target on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $10.00 price target on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Two investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.57.

Sunstone Hotel Investors Stock Performance

Shares of SHO stock opened at $9.73 on Friday. The business’s 50 day simple moving average is $10.89 and its 200 day simple moving average is $10.88. Sunstone Hotel Investors has a one year low of $9.39 and a one year high of $12.41. The stock has a market capitalization of $1.95 billion, a PE ratio of 12.80, a PEG ratio of 4.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The business had revenue of $214.77 million for the quarter, compared to analysts’ expectations of $211.17 million. As a group, research analysts forecast that Sunstone Hotel Investors will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Monday, March 31st. Sunstone Hotel Investors’s payout ratio is 257.14%.

Hedge Funds Weigh In On Sunstone Hotel Investors

A number of institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Sunstone Hotel Investors by 645.6% during the fourth quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust’s stock worth $98,929,000 after purchasing an additional 7,234,862 shares during the period. Bank of America Corp DE grew its holdings in Sunstone Hotel Investors by 23.0% during the fourth quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust’s stock worth $77,760,000 after buying an additional 1,229,769 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 buying an additional 109,327 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Sunstone Hotel Investors by 31.0% during 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 buying an additional 1,130,558 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in Sunstone Hotel Investors by 22.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust’s stock worth $55,488,000 after buying an additional 851,104 shares in the last quarter. 99.37% of the stock is owned by institutional investors and hedge funds.

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.