Wells Fargo & Company Lowers Sunstone Hotel Investors (NYSE:SHO) Price Target to $12.00

Sunstone Hotel Investors (NYSE:SHO) had its price target decreased by Wells Fargo & Company from $13.00 to $12.00 in a report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities research analysts have also weighed in on the company. Morgan Stanley reissued an “underweight” rating and issued a $10.00 price objective on shares of Sunstone Hotel Investors in a report on Tuesday, January 14th. Jefferies Financial Group upped their target price on shares of Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.71.

Sunstone Hotel Investors Price Performance

Shares of NYSE SHO opened at $11.45 on Tuesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $11.70 and a two-hundred day simple moving average of $10.85. Sunstone Hotel Investors has a 1-year low of $9.39 and a 1-year high of $12.41. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 3.78 and a beta of 1.20.

Institutional Trading of Sunstone Hotel Investors

Several large investors have recently bought and sold shares of SHO. Principal Financial Group Inc. lifted its stake in shares of Sunstone Hotel Investors by 645.6% in the 4th 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 purchasing an additional 7,234,862 shares during the period. Bank of America Corp DE lifted its holdings in shares of 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 valued at $77,760,000 after purchasing an additional 1,229,769 shares during the last quarter. Geode Capital Management LLC boosted 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 valued at $54,169,000 after buying an additional 109,327 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position 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 valued at $55,488,000 after purchasing an additional 851,104 shares during the period. 99.37% of the stock is owned by 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.