Truist Financial Has Lowered Expectations for Sunstone Hotel Investors (NYSE:SHO) Stock Price

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

A number of other equities analysts also recently commented on SHO. Morgan Stanley reiterated an “underweight” rating and issued a $10.00 price target on shares of Sunstone Hotel Investors in a research note on Tuesday, January 14th. Wells Fargo & Company decreased their target price 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. Finally, 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 note on Thursday, January 2nd. Two investment 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.57.

Sunstone Hotel Investors Stock Down 0.9 %

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

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, topping 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 predict that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.70%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 257.14%.

Institutional Investors Weigh In On Sunstone Hotel Investors

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in shares of Sunstone Hotel Investors by 645.6% during the fourth quarter. Principal Financial Group Inc. now owns 8,355,572 shares of the real estate investment trust’s stock valued at $98,929,000 after buying an additional 7,234,862 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Sunstone Hotel Investors by 23.0% during the fourth quarter. Bank of America Corp DE now owns 6,567,535 shares of the real estate investment trust’s stock valued at $77,760,000 after buying an additional 1,229,769 shares during the last quarter. Geode Capital Management LLC raised 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 valued at $54,169,000 after buying an additional 109,327 shares during the last quarter. JPMorgan Chase & Co. raised 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 valued at $49,284,000 after buying an additional 1,130,558 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Sunstone Hotel Investors by 22.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 4,686,489 shares of the real estate investment trust’s stock valued at $55,488,000 after buying an additional 851,104 shares during the last quarter. Institutional investors own 99.37% of the company’s stock.

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.