Sunstone Hotel Investors (NYSE:SHO) Price Target Cut to $11.00 by Analysts at Truist Financial

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

Other research analysts also recently issued research reports about the company. Wells Fargo & Company dropped their price target on Sunstone Hotel Investors from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Jefferies Financial Group lifted their target price on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $10.00 target price on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.57.

Sunstone Hotel Investors Stock Down 0.9 %

SHO stock opened at $9.73 on Friday. The company 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. The business has a 50-day simple moving average of $10.89 and a 200 day simple moving average of $10.88. Sunstone Hotel Investors has a 52 week low of $9.39 and a 52 week high of $12.41. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly 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 business had revenue of $214.77 million during the quarter, compared to the consensus estimate of $211.17 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. Sell-side analysts anticipate that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Monday, March 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 257.14%.

Institutional Trading of Sunstone Hotel Investors

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Sunstone Hotel Investors by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust’s stock worth $49,284,000 after purchasing an additional 1,130,558 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Sunstone Hotel Investors during the third quarter worth about $573,000. NFJ Investment Group LLC bought a new stake in shares of Sunstone Hotel Investors during the third quarter worth about $3,220,000. Principal Financial Group Inc. grew its holdings in shares of Sunstone Hotel Investors by 11.6% during the third quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust’s stock worth $11,566,000 after purchasing an additional 116,058 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Sunstone Hotel Investors by 2.1% during the third quarter. Geode Capital Management LLC now owns 5,247,927 shares of the real estate investment trust’s stock worth $54,169,000 after purchasing an additional 109,327 shares during the last quarter. 99.37% of the stock is currently owned by 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.