Evercore ISI Lowers Sunstone Hotel Investors (NYSE:SHO) Price Target to $10.00

Sunstone Hotel Investors (NYSE:SHO - Free Report) had its price target trimmed by Evercore ISI from $12.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an in-line rating on the real estate investment trust's stock.

SHO has been the subject of a number of other research reports. Jefferies Financial Group cut their target price on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company cut their price objective on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Morgan Stanley reduced their target price on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial dropped their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $10.44.

Sunstone Hotel Investors Price Performance

Shares of SHO traded up $0.12 on Monday, reaching $8.33. The stock had a trading volume of 3,218,093 shares, compared to its average volume of 2,341,719. The firm has a 50-day moving average of $9.21 and a 200 day moving average of $10.52. The firm has a market capitalization of $1.68 billion, a PE ratio of 10.96, a PEG ratio of 4.52 and a beta of 1.16. Sunstone Hotel Investors has a twelve month low of $7.45 and a twelve month high of $12.41. 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 (NYSE:SHO - Get Free Report) last posted its earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $214.77 million for the quarter, compared to analyst estimates 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 expect that Sunstone Hotel Investors will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Monday, March 31st. Sunstone Hotel Investors's dividend payout ratio (DPR) is 257.14%.

Hedge Funds Weigh In On Sunstone Hotel Investors

Several institutional investors have recently added to or reduced their stakes in SHO. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sunstone Hotel Investors in the 4th quarter worth about $33,000. Smartleaf Asset Management LLC lifted its holdings in shares of Sunstone Hotel Investors by 442.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,001 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 2,448 shares during the period. GAMMA Investing LLC boosted its position in shares of Sunstone Hotel Investors by 114.1% in the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 1,743 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in Sunstone Hotel Investors in the fourth quarter valued at approximately $42,000. Finally, Sterling Capital Management LLC increased its position in Sunstone Hotel Investors by 805.2% during the fourth quarter. Sterling Capital Management LLC now owns 6,409 shares of the real estate investment trust's stock worth $76,000 after purchasing an additional 5,701 shares during the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

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.