Sunstone Hotel Investors (NYSE:SHO - Get Free Report) had its price objective dropped by stock analysts at Morgan Stanley from $9.00 to $7.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "underweight" rating on the real estate investment trust's stock. Morgan Stanley's price objective would indicate a potential downside of 15.15% from the company's previous close.
A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group lowered their target price on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company cut their target price on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, Truist Financial decreased their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research report on Friday, March 21st. Two research 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 company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $10.57.
Read Our Latest Stock Analysis on Sunstone Hotel Investors
Sunstone Hotel Investors Trading Up 0.1 %
NYSE SHO opened at $8.25 on Tuesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $9.63 and a 200-day moving average price of $10.63. Sunstone Hotel Investors has a 52 week low of $7.45 and a 52 week high of $12.41. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 4.52 and a beta of 1.16.
Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share (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 company had revenue of $214.77 million for the quarter, compared to analysts' expectations of $211.17 million. As a group, equities analysts expect that Sunstone Hotel Investors will post 0.79 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sunstone Hotel Investors
A number of hedge funds have recently modified their holdings of SHO. Principal Financial Group Inc. increased 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 valued at $98,929,000 after buying an additional 7,234,862 shares during the period. Bank of America Corp DE lifted its stake in shares of Sunstone Hotel Investors by 23.0% in the 4th quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust's stock valued at $77,760,000 after purchasing an additional 1,229,769 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 valued at $49,284,000 after purchasing an additional 1,130,558 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in Sunstone Hotel Investors by 22.2% in 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 purchasing an additional 851,104 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sunstone Hotel Investors by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,156,930 shares of the real estate investment trust's stock worth $49,218,000 after acquiring an additional 74,952 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company's stock.
About Sunstone Hotel Investors
(
Get Free Report)
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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