Sunstone Hotel Investors (NYSE:SHO) Rating Increased to Equal Weight at 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 report released on Friday morning, MarketBeat reports. They currently have $10.50 price objective on the real estate investment trust’s stock.

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

Sunstone Hotel Investors Stock Up 1.1 %

Sunstone Hotel Investors stock opened at $10.15 on Friday. Sunstone Hotel Investors has a 52 week low of $8.89 and a 52 week high of $11.59. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 4.22 and a beta of 1.25. The business’s 50-day moving average price is $10.16 and its 200 day moving average price is $10.40. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.43.

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 for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $248.12 million. During the same period last year, the firm earned $0.33 earnings per share. Sunstone Hotel Investors’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sunstone Hotel Investors will post 0.89 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The company 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 $0.09 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.36 dividend on an annualized basis and a yield of 3.55%. Sunstone Hotel Investors’s payout ratio is currently 33.33%.

Institutional Investors Weigh In On Sunstone Hotel Investors

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Sunstone Hotel Investors by 0.4% in the first quarter. Vanguard Group Inc. now owns 32,326,254 shares of the real estate investment trust’s stock worth $360,114,000 after buying an additional 115,899 shares in the last quarter. Franklin Resources Inc. raised its holdings in Sunstone Hotel Investors by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 7,860,281 shares of the real estate investment trust’s stock valued at $84,341,000 after acquiring an additional 89,211 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Sunstone Hotel Investors by 2.3% in the 4th 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 purchasing an additional 88,949 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Sunstone Hotel Investors by 313.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock worth $41,565,000 after purchasing an additional 2,937,603 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Sunstone Hotel Investors by 7.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,281,393 shares of the real estate investment trust’s stock valued at $35,209,000 after purchasing an additional 236,708 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.