Sunstone Hotel Investors (NYSE:SHO) Price Target Cut to $8.50 by Analysts at Wells Fargo & Company

Sunstone Hotel Investors (NYSE:SHO) had its target price dropped by analysts at Wells Fargo & Company from $9.00 to $8.50 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 4.60% from the stock’s previous close.

SHO has been the topic of a number of other research reports. Bank of America upgraded Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Wednesday, April 30th. Truist Financial lowered their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Evercore ISI upgraded Sunstone Hotel Investors from an “in-line” rating to an “outperform” rating and set a $10.00 price target on the stock in a report on Friday, May 16th. Jefferies Financial Group lowered their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. began coverage on Sunstone Hotel Investors in a report on Monday, June 23rd. They set an “underweight” rating and a $8.00 price target on the stock. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.31.

Sunstone Hotel Investors Stock Up 0.8%

Shares of Sunstone Hotel Investors stock opened at $8.91 on Tuesday. The stock’s fifty day moving average is $8.71 and its 200-day moving average is $9.91. The firm has a market capitalization of $1.77 billion, a PE ratio of 89.10, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.47. Sunstone Hotel Investors has a 12-month low of $7.45 and a 12-month high of $12.41.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The business had revenue of $234.07 million for the quarter, compared to the consensus estimate of $243.34 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Sunstone Hotel Investors’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Sunstone Hotel Investors will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sunstone Hotel Investors in the fourth quarter valued at about $33,000. Smartleaf Asset Management LLC lifted its position in shares of Sunstone Hotel Investors by 442.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 2,448 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Sunstone Hotel Investors in the fourth quarter worth about $42,000. GAMMA Investing LLC lifted its position in shares of Sunstone Hotel Investors by 47.7% in the first quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,560 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of Sunstone Hotel Investors by 805.2% in the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 5,701 shares during the last quarter. Hedge funds and other institutional investors own 99.37% of the company’s stock.

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 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.