Sunstone Hotel Investors (NYSE:SHO) Raised to Buy at Bank of America

Bank of America upgraded shares of Sunstone Hotel Investors (NYSE:SHO) from an underperform rating to a buy rating in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $10.00 price target on the real estate investment trust’s stock.

SHO has been the subject of a number of other reports. Jefferies Financial Group lowered their price target on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Morgan Stanley cut their price target on Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, April 22nd. Evercore ISI reduced their price target on Sunstone Hotel Investors from $12.00 to $10.00 and set an “in-line” rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company lowered their price objective on 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 reduced their target price 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 equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sunstone Hotel Investors has an average rating of “Hold” and a consensus target price of $10.44.

Sunstone Hotel Investors Trading Up 2.9 %

Shares of Sunstone Hotel Investors stock opened at $8.72 on Wednesday. Sunstone Hotel Investors has a 1 year low of $7.45 and a 1 year high of $12.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. The business has a 50 day moving average price of $9.14 and a 200 day moving average price of $10.50. The company has a market capitalization of $1.75 billion, a P/E ratio of 11.47, a P/E/G ratio of 4.52 and a beta of 1.16.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $214.77 million during the quarter, compared to analysts’ expectations of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Sell-side analysts anticipate that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.36 annualized dividend and a yield of 4.13%. Sunstone Hotel Investors’s dividend payout ratio is presently 257.14%.

Hedge Funds Weigh In On Sunstone Hotel Investors

Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Sunstone Hotel Investors in the fourth quarter valued at approximately $33,000. Smartleaf Asset Management LLC raised its stake in shares of Sunstone Hotel Investors by 442.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 2,448 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Sunstone Hotel Investors by 114.1% during the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,743 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Sunstone Hotel Investors during the 4th quarter worth $42,000. Finally, Sterling Capital Management LLC boosted its position in Sunstone Hotel Investors by 805.2% during the 4th quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 5,701 shares during the period. 99.37% of the stock is owned by institutional investors and hedge funds.

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.