Shares of Sunstone Hotel Investors Inc (NYSE:SHO) have been given an average rating of “Hold” by the ten analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $10.00.
A number of analysts have recently issued reports on the stock. Wells Fargo & Co lowered their price objective on shares of Sunstone Hotel Investors from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. SunTrust Banks cut shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Friday, July 24th. Deutsche Bank reissued a “hold” rating and issued a $10.00 target price (down from $11.00) on shares of Sunstone Hotel Investors in a research note on Tuesday, May 19th. Zacks Investment Research raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Wednesday, June 24th. Finally, Morgan Stanley raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $7.00 to $8.00 in a research note on Wednesday.
NYSE SHO opened at $7.48 on Thursday. The company has a quick ratio of 5.04, a current ratio of 5.04 and a debt-to-equity ratio of 0.58. Sunstone Hotel Investors has a 12-month low of $5.75 and a 12-month high of $14.47. The company has a market capitalization of $1.61 billion, a PE ratio of -27.70 and a beta of 1.08. The firm’s 50 day moving average is $8.10 and its 200-day moving average is $9.67.
Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Friday, May 8th. The real estate investment trust reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.14). Sunstone Hotel Investors had a negative net margin of 3.88% and a negative return on equity of 1.69%. The business had revenue of $191.21 million during the quarter, compared to analyst estimates of $209.65 million. During the same quarter last year, the business earned $0.21 earnings per share. Sunstone Hotel Investors’s revenue for the quarter was down 25.8% on a year-over-year basis. As a group, sell-side analysts expect that Sunstone Hotel Investors will post -0.43 EPS for the current year.
In related news, Director W Blake Baird acquired 5,000 shares of Sunstone Hotel Investors stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $7.18 per share, with a total value of $35,900.00. Following the completion of the transaction, the director now directly owns 44,857 shares in the company, valued at approximately $322,073.26. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its position in Sunstone Hotel Investors by 0.9% during the first quarter. Alliancebernstein L.P. now owns 438,738 shares of the real estate investment trust’s stock worth $3,821,000 after purchasing an additional 3,850 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Sunstone Hotel Investors by 19.2% in the first quarter. Parametric Portfolio Associates LLC now owns 363,443 shares of the real estate investment trust’s stock valued at $3,166,000 after acquiring an additional 58,549 shares during the period. Guggenheim Capital LLC boosted its position in shares of Sunstone Hotel Investors by 39.6% in the first quarter. Guggenheim Capital LLC now owns 173,054 shares of the real estate investment trust’s stock valued at $1,507,000 after acquiring an additional 49,107 shares during the period. Geode Capital Management LLC boosted its position in shares of Sunstone Hotel Investors by 1.7% in the first quarter. Geode Capital Management LLC now owns 4,736,793 shares of the real estate investment trust’s stock valued at $41,257,000 after acquiring an additional 80,124 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Sunstone Hotel Investors by 73.0% in the fourth quarter. Bank of America Corp DE now owns 1,332,888 shares of the real estate investment trust’s stock valued at $18,553,000 after acquiring an additional 562,286 shares during the period.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of February 12, 2019 has interests in 21 hotels comprised of 10,780 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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