Sunstone Hotel Investors (NYSE:SHO) Price Target Raised to $10.00

Sunstone Hotel Investors (NYSE:SHO) had its target price hoisted by Wells Fargo & Company from $8.50 to $10.00 in a research report report published on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

SHO has been the topic of several other reports. Truist Financial reduced their price objective on Sunstone Hotel Investors from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. Wall Street Zen cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Sunstone Hotel Investors in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sunstone Hotel Investors currently has an average rating of “Hold” and an average price target of $9.14.

Sunstone Hotel Investors Price Performance

Sunstone Hotel Investors stock opened at $9.20 on Monday. Sunstone Hotel Investors has a 52-week low of $7.45 and a 52-week high of $12.41. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average is $9.24 and its 200 day moving average is $9.11. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 2.73 and a beta of 1.03.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings data on Friday, November 7th. The real estate investment trust reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $229.32 million during the quarter, compared to analysts’ expectations of $226.05 million. Sunstone Hotel Investors had a net margin of 1.94% and a return on equity of 1.04%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. Sunstone Hotel Investors has set its FY 2025 guidance at 0.800-0.870 EPS. Sell-side analysts forecast that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, December 31st.

Hedge Funds Weigh In On Sunstone Hotel Investors

Several hedge funds have recently bought and sold shares of SHO. CIBC Bancorp USA Inc. bought a new stake in shares of Sunstone Hotel Investors during the third quarter worth $190,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Sunstone Hotel Investors by 0.7% in the third quarter. CANADA LIFE ASSURANCE Co now owns 456,344 shares of the real estate investment trust’s stock worth $4,361,000 after purchasing an additional 3,390 shares during the last quarter. Woodline Partners LP purchased a new position in Sunstone Hotel Investors in the 3rd quarter worth about $44,295,000. Dark Forest Capital Management LP bought a new stake in Sunstone Hotel Investors during the 3rd quarter valued at about $925,000. Finally, Alyeska Investment Group L.P. lifted its holdings in Sunstone Hotel Investors by 252.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,873,875 shares of the real estate investment trust’s stock valued at $26,928,000 after buying an additional 2,059,222 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.