Wells Fargo & Company Upgrades Sunstone Hotel Investors (NYSE:SHO) to “Equal Weight”

Wells Fargo & Company upgraded shares of Sunstone Hotel Investors (NYSE:SHO) from an underweight rating to an equal weight rating in a research note issued to investors on Friday, MarketBeat Ratings reports. Wells Fargo & Company currently has $10.50 price target on the real estate investment trust’s stock.

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

Sunstone Hotel Investors Trading Up 1.1 %

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

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

Sunstone Hotel Investors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.09 dividend. The ex-dividend date 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%.

Hedge Funds Weigh In On Sunstone Hotel Investors

Several institutional investors have recently bought and sold shares of the stock. Natixis Advisors L.P. increased its position in Sunstone Hotel Investors by 39.7% during the fourth quarter. Natixis Advisors L.P. now owns 61,823 shares of the real estate investment trust’s stock valued at $663,000 after acquiring an additional 17,555 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Sunstone Hotel Investors by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,906,158 shares of the real estate investment trust’s stock worth $41,913,000 after buying an additional 88,949 shares during the period. Jump Financial LLC bought a new stake in shares of Sunstone Hotel Investors in the 4th quarter valued at about $657,000. Quadrant Capital Group LLC boosted its stake in 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 valued at $57,000 after acquiring an additional 1,387 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its stake in Sunstone Hotel Investors by 1.8% during the 4th quarter. Panagora Asset Management Inc. now owns 1,091,151 shares of the real estate investment trust’s stock worth $11,708,000 after buying an additional 19,018 shares during the last quarter. 99.37% of the stock is owned by hedge funds and other 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.