Sunstone Hotel Investors (NYSE:SHO) Price Target Cut to $12.00 by Analysts at Truist Financial

Sunstone Hotel Investors (NYSE:SHOFree Report) had its price objective trimmed by Truist Financial from $13.00 to $12.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

SHO has been the subject of a number of other research reports. Baird R W upgraded shares of Sunstone Hotel Investors to a strong-buy rating in a research report on Tuesday. Compass Point raised shares of Sunstone Hotel Investors from a sell rating to a neutral rating and upped their price target for the company from $10.00 to $12.00 in a report on Tuesday, May 7th. Robert W. Baird raised shares of Sunstone Hotel Investors from a neutral rating to an outperform rating and upped their price target for the company from $11.00 to $12.00 in a report on Tuesday. Finally, StockNews.com downgraded shares of Sunstone Hotel Investors from a hold rating to a sell rating in a report on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Sunstone Hotel Investors currently has an average rating of Hold and an average price target of $10.57.

Read Our Latest Stock Analysis on Sunstone Hotel Investors

Sunstone Hotel Investors Stock Performance

Shares of SHO opened at $10.14 on Thursday. The firm has a 50-day moving average price of $10.52 and a 200 day moving average price of $10.62. The firm has a market capitalization of $2.06 billion, a PE ratio of 11.26, a P/E/G ratio of 4.88 and a beta of 1.22. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors has a 52-week low of $8.61 and a 52-week high of $11.59.

Sunstone Hotel Investors (NYSE:SHOGet Free Report) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). The company had revenue of $217.17 million during the quarter, compared to the consensus estimate of $212.00 million. Sunstone Hotel Investors had a net margin of 20.69% and a return on equity of 10.75%. On average, sell-side analysts anticipate that Sunstone Hotel Investors will post 0.88 earnings per share for the current fiscal year.

Sunstone Hotel Investors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 3.55%. Sunstone Hotel Investors’s dividend payout ratio is currently 28.89%.

Institutional Trading of Sunstone Hotel Investors

A number of hedge funds have recently bought and sold shares of SHO. Vanguard Group Inc. increased its holdings in shares of Sunstone Hotel Investors by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 32,326,254 shares of the real estate investment trust’s stock valued at $360,114,000 after purchasing an additional 115,899 shares during the period. Rush Island Management LP increased its holdings in 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. Franklin Resources Inc. increased its holdings in Sunstone Hotel Investors by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 7,860,281 shares of the real estate investment trust’s stock worth $84,341,000 after buying an additional 89,211 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Sunstone Hotel Investors by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,906,158 shares of the real estate investment trust’s stock worth $41,913,000 after buying an additional 88,949 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in Sunstone Hotel Investors by 313.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock worth $41,565,000 after buying an additional 2,937,603 shares during the last quarter. 99.37% of the stock is owned by hedge funds and other institutional investors.

About Sunstone Hotel Investors

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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.

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Analyst Recommendations for Sunstone Hotel Investors (NYSE:SHO)

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