Sunstone Hotel Investors (NYSE:SHO) Given New $13.00 Price Target at Wells Fargo & Company

Sunstone Hotel Investors (NYSE:SHO) had its target price upped by Wells Fargo & Company from $11.00 to $13.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 6.21% from the company’s previous close.

Sunstone Hotel Investors Trading Up 0.9 %

Shares of NYSE:SHO opened at $12.24 on Monday. Sunstone Hotel Investors has a 52-week low of $9.39 and a 52-week high of $12.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market cap of $2.46 billion, a P/E ratio of 16.11, a P/E/G ratio of 6.41 and a beta of 1.25. The stock’s 50-day moving average is $10.58 and its 200-day moving average is $10.34.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The business had revenue of $226.40 million during the quarter, compared to analyst estimates of $224.61 million. During the same period last year, the business earned $0.23 EPS. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. Equities research analysts predict that Sunstone Hotel Investors will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SHO. Federated Hermes Inc. bought a new stake in shares of Sunstone Hotel Investors in the second quarter valued at about $34,000. Quarry LP lifted its position in shares of Sunstone Hotel Investors by 584.1% in the 2nd quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 3,680 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Sunstone Hotel Investors during the 2nd quarter worth approximately $52,000. Harbor Capital Advisors Inc. bought a new stake in shares of Sunstone Hotel Investors during the third quarter valued at approximately $59,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Sunstone Hotel Investors by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,510 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 1,937 shares in the last quarter. 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.