Sunstone Hotel Investors (NYSE:SHO) Upgraded to Equal Weight by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Sunstone Hotel Investors (NYSE:SHO) from an underweight rating to an equal weight rating in a research report report published on Friday, Marketbeat reports. They currently have $10.50 price objective on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. Wolfe Research raised Sunstone Hotel Investors from a peer perform rating to an outperform rating and set a $12.00 target price on the stock in a report on Wednesday, July 10th. Truist Financial lowered their price objective on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a hold rating for the company in a research report on Thursday, May 30th. Robert W. Baird upgraded shares of Sunstone Hotel Investors from a neutral rating to an outperform rating and raised their target price for the company from $11.00 to $12.00 in a research report on Tuesday, May 28th. StockNews.com cut Sunstone Hotel Investors from a hold rating to a sell rating in a report on Thursday, August 1st. Finally, Baird R W upgraded Sunstone Hotel Investors to a strong-buy rating in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $11.07.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $10.15 on Friday. The stock has a market cap of $2.07 billion, a PE ratio of 11.28, a P/E/G ratio of 4.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.75 and a current ratio of 3.75. Sunstone Hotel Investors has a 52-week low of $8.89 and a 52-week high of $11.59. The firm has a 50-day moving average of $10.16 and a 200-day moving average of $10.41.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The firm had revenue of $247.50 million during the quarter, compared to analyst estimates of $248.12 million. During the same period in the prior year, the company earned $0.33 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Sunstone Hotel Investors will post 0.89 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.36 annualized dividend and a yield of 3.55%. Sunstone Hotel Investors’s payout ratio is 35.56%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SHO. Janney Montgomery Scott LLC increased its position in shares of Sunstone Hotel Investors by 6.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,805 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 1,215 shares during the last quarter. Diversified Trust Co boosted its position in shares of Sunstone Hotel Investors by 3.9% in the first quarter. Diversified Trust Co now owns 34,553 shares of the real estate investment trust’s stock valued at $385,000 after acquiring an additional 1,303 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of Sunstone Hotel Investors by 35.4% in the fourth quarter. Quadrant Capital Group LLC now owns 5,305 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 1,387 shares during the period. Van ECK Associates Corp raised its position in shares of Sunstone Hotel Investors by 5.5% in the second quarter. Van ECK Associates Corp now owns 31,119 shares of the real estate investment trust’s stock worth $326,000 after buying an additional 1,635 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in shares of Sunstone Hotel Investors by 12.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 17,479 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 1,881 shares in the last quarter. Hedge funds and other institutional investors own 99.37% of the company’s stock.

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.