Sunstone Hotel Investors (NYSE:SHO) Upgraded by Evercore ISI to Outperform Rating

Sunstone Hotel Investors (NYSE:SHO) was upgraded by Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has a $10.00 price target on the real estate investment trust’s stock. Evercore ISI’s price target would suggest a potential upside of 12.07% from the company’s previous close.

Other analysts also recently issued reports about the company. Bank of America upgraded Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Wednesday, April 30th. Wells Fargo & Company dropped 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. Jefferies Financial Group dropped their price objective on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Truist Financial dropped their price objective on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, March 21st. Finally, Morgan Stanley dropped their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sunstone Hotel Investors presently has a consensus rating of “Hold” and a consensus price target of $10.25.

Sunstone Hotel Investors Stock Performance

SHO opened at $8.92 on Friday. The business has a fifty day simple moving average of $8.80 and a 200 day simple moving average of $10.39. The company has a market capitalization of $1.77 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 4.52 and a beta of 1.25. 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.

Sunstone Hotel Investors (NYSE:SHO) last released its 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. The firm had revenue of $234.07 million during the quarter, compared to the consensus estimate of $243.34 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. Research analysts expect that Sunstone Hotel Investors will post 0.79 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sunstone Hotel Investors during the 4th quarter valued at about $33,000. Smartleaf Asset Management LLC lifted its position in 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 worth $36,000 after buying an additional 2,448 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Sunstone Hotel Investors in the 4th quarter worth approximately $42,000. GAMMA Investing LLC lifted its position in 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 valued at $45,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in 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 valued at $76,000 after purchasing 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.