Truist Financial Issues Pessimistic Forecast for Sunstone Hotel Investors (NYSE:SHO) Stock Price

Sunstone Hotel Investors (NYSE:SHO - Free Report) had its target price lowered by Truist Financial from $12.00 to $11.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust's stock.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group boosted their price target on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a "hold" rating in a research note on Thursday, January 2nd. Morgan Stanley reiterated an "underweight" rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company cut their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sunstone Hotel Investors has an average rating of "Hold" and a consensus price target of $11.57.

Sunstone Hotel Investors Price Performance

NYSE:SHO traded up $0.07 on Friday, reaching $9.80. 381,779 shares of the company's stock traded hands, compared to its average volume of 2,105,168. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. Sunstone Hotel Investors has a 12 month low of $9.39 and a 12 month high of $12.41. The stock has a 50-day simple moving average of $10.89 and a 200-day simple moving average of $10.89. The firm has a market cap of $1.97 billion, a PE ratio of 12.89, a P/E/G ratio of 4.52 and a beta of 1.19.

Remove Ads

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

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.36 annualized dividend and a yield of 3.67%. Sunstone Hotel Investors's payout ratio is presently 257.14%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Sunstone Hotel Investors by 31.0% in 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 acquiring an additional 1,130,558 shares during the period. Intech Investment Management LLC bought a new position in Sunstone Hotel Investors in the 3rd quarter valued at $573,000. NFJ Investment Group LLC bought a new position in Sunstone Hotel Investors in the 3rd quarter valued at $3,220,000. Principal Financial Group Inc. increased its stake in Sunstone Hotel Investors by 11.6% in the third quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust's stock worth $11,566,000 after purchasing an additional 116,058 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 109,327 shares during the last quarter. 99.37% of the stock is owned by hedge funds and other institutional investors.

Sunstone Hotel Investors Company Profile

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.