Sunstone Hotel Investors (NYSE:SHO) Upgraded at Wells Fargo & Company

Sunstone Hotel Investors (NYSE:SHO) was upgraded by equities research analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a report released on Friday, Marketbeat.com reports. The firm presently has a $10.50 price target on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 3.45% from the company’s current price.

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

Sunstone Hotel Investors Price Performance

Shares of Sunstone Hotel Investors stock opened at $10.15 on Friday. Sunstone Hotel Investors has a twelve month low of $8.89 and a twelve month high of $11.59. The stock has a market capitalization of $2.07 billion, a P/E ratio of 11.28, a PEG ratio of 4.14 and a beta of 1.25. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $10.16 and its 200 day moving average price is $10.41.

Sunstone Hotel Investors (NYSE:SHO) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $248.12 million. During the same quarter in the previous year, the business posted $0.33 EPS. Sunstone Hotel Investors’s revenue was down 10.4% compared to the same quarter last year. As a group, research analysts anticipate that Sunstone Hotel Investors will post 0.89 earnings per share for the current year.

Institutional Trading of Sunstone Hotel Investors

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Truist Financial Corp increased its position in shares of Sunstone Hotel Investors by 7.0% during the second quarter. Truist Financial Corp now owns 47,223 shares of the real estate investment trust’s stock worth $494,000 after acquiring an additional 3,098 shares during the last quarter. Quarry LP increased its holdings in Sunstone Hotel Investors by 584.1% in the second quarter. Quarry LP now owns 4,310 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 3,680 shares during the last quarter. Algert Global LLC bought a new stake in Sunstone Hotel Investors in the second quarter valued at about $1,187,000. The Manufacturers Life Insurance Company increased its holdings in Sunstone Hotel Investors by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 2,651,189 shares of the real estate investment trust’s stock valued at $27,731,000 after buying an additional 25,086 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Sunstone Hotel Investors by 368.0% in the second quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock valued at $18,489,000 after buying an additional 1,389,917 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.