Sunstone Hotel Investors (NYSE:SHO) PT Raised to $9.00

Sunstone Hotel Investors (NYSE:SHO) had its target price hoisted by JPMorgan Chase & Co. from $8.00 to $9.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 5.11% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Barclays cut their target price on shares of Sunstone Hotel Investors from $10.00 to $9.00 and set an “underweight” rating on the stock in a research note on Thursday, September 28th. Wells Fargo & Company increased their price objective on shares of Sunstone Hotel Investors from $9.50 to $11.00 in a research report on Wednesday, July 12th. Compass Point dropped their price objective on shares of Sunstone Hotel Investors from $10.00 to $9.00 in a research report on Tuesday, August 8th. Wolfe Research assumed coverage on shares of Sunstone Hotel Investors in a research report on Wednesday, September 27th. They issued a “peer perform” rating on the stock. Finally, StockNews.com assumed coverage on shares of Sunstone Hotel Investors in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Four research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, Sunstone Hotel Investors presently has an average rating of “Hold” and an average price target of $9.67.

Sunstone Hotel Investors Price Performance

Shares of SHO opened at $9.49 on Wednesday. Sunstone Hotel Investors has a fifty-two week low of $8.60 and a fifty-two week high of $11.38. The firm’s 50 day moving average price is $9.29 and its 200 day moving average price is $9.65. The company has a market cap of $1.97 billion, a P/E ratio of 23.71, a PEG ratio of 3.38 and a beta of 1.22. The company has a quick ratio of 1.54, a current ratio of 5.26 and a debt-to-equity ratio of 0.45.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Sunstone Hotel Investors by 9.0% in the 3rd quarter. Vanguard Group Inc. now owns 34,473,209 shares of the real estate investment trust’s stock valued at $324,738,000 after buying an additional 2,843,715 shares during the last quarter. State Street Corp grew its position in shares of Sunstone Hotel Investors by 26.5% in the 3rd quarter. State Street Corp now owns 13,652,726 shares of the real estate investment trust’s stock valued at $129,260,000 after buying an additional 2,863,572 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Sunstone Hotel Investors by 14.7% in the 2nd quarter. Franklin Resources Inc. now owns 10,315,334 shares of the real estate investment trust’s stock valued at $104,391,000 after buying an additional 1,321,934 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Sunstone Hotel Investors by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 8,227,051 shares of the real estate investment trust’s stock valued at $81,283,000 after buying an additional 97,221 shares during the last quarter. Finally, Rush Island Management LP grew its position in shares of Sunstone Hotel Investors by 14.7% in the 2nd quarter. Rush Island Management LP now owns 7,354,153 shares of the real estate investment trust’s stock valued at $74,424,000 after buying an additional 943,686 shares during the last quarter.

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 15 hotels comprised of 7,735 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 hotels considered to be Long-Term Relevant Real Estate.