Truist Financial Cuts Sunstone Hotel Investors (NYSE:SHO) Price Target to $11.00

Sunstone Hotel Investors (NYSE:SHO) had its price objective trimmed by Truist Financial from $12.00 to $11.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Several other research analysts have also weighed in on the company. Wells Fargo & Company cut their target price on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Morgan Stanley reaffirmed an “underweight” rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group increased their target price on Sunstone Hotel Investors from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Two equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.57.

Sunstone Hotel Investors Stock Down 0.9 %

Shares of NYSE SHO opened at $9.73 on Friday. The business has a 50-day moving average price of $10.89 and a 200 day moving average price of $10.89. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.95 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 4.52 and a beta of 1.19. Sunstone Hotel Investors has a 52-week low of $9.39 and a 52-week high of $12.41.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The firm had revenue of $214.77 million for the quarter, compared to analysts’ expectations of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Equities research analysts forecast that Sunstone Hotel Investors will post 0.79 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 257.14%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth about $33,000. Smartleaf Asset Management LLC increased its position in shares of Sunstone Hotel Investors by 442.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 2,448 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Sunstone Hotel Investors by 114.1% during the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 1,743 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Sunstone Hotel Investors during the fourth quarter worth about $42,000. Finally, Sterling Capital Management LLC increased its position in shares of Sunstone Hotel Investors by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 5,701 shares during the last quarter. 99.37% of the stock is owned by hedge funds and other institutional investors.

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.