Jefferies Financial Group Forecasts Strong Price Appreciation for Sunstone Hotel Investors (NYSE:SHO) Stock

Sunstone Hotel Investors (NYSE:SHO) had its price objective raised by equities research analysts at Jefferies Financial Group from $10.00 to $12.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 1.78% from the company’s previous close.

Separately, Wells Fargo & Company increased their price objective on Sunstone Hotel Investors from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.17.

Sunstone Hotel Investors Trading Up 1.2 %

NYSE SHO opened at $11.79 on Thursday. 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 has a 52 week low of $9.39 and a 52 week high of $12.41. The business has a 50 day moving average price of $11.21 and a 200-day moving average price of $10.57. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 6.45 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the business posted $0.23 EPS. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, equities analysts expect that Sunstone Hotel Investors will post 0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sunstone Hotel Investors

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. purchased a new position in Sunstone Hotel Investors in the second quarter valued at about $34,000. GAMMA Investing LLC increased its stake in shares of Sunstone Hotel Investors by 114.1% during the 4th quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 1,743 shares during the last quarter. Quarry LP raised its holdings 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 purchasing an additional 3,680 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Sunstone Hotel Investors in the third quarter valued at approximately $59,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Sunstone Hotel Investors by 34.8% during 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 during the period. 99.37% of the stock is owned by hedge funds and other institutional investors.

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.