Sunstone Hotel Investors (NYSE:SHO) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
According to Zacks, "Sunstone Hotel Investors, Inc. is a Southern California-based lodging real estate company that expects to qualify as a real estate investment trust for federal income tax purposes. The Company owns hotels primarily in the upper-upscale and upscale segments primarily operated under franchises owned nationally-recognized companies, such as Marriott, Hilton, InterContinental and Hyatt. "
Other analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Sunstone Hotel Investors from $11.50 to $13.00 and gave the stock an "equal weight" rating in a research note on Monday. Truist raised shares of Sunstone Hotel Investors from a "sell" rating to a "hold" rating and set a $11.00 price target for the company in a research note on Tuesday, August 17th. Truist Securities raised shares of Sunstone Hotel Investors from a "sell" rating to a "hold" rating and set a $11.00 price target for the company in a research note on Tuesday, August 17th. Finally, Citigroup lowered their price objective on shares of Sunstone Hotel Investors from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, October 6th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Sunstone Hotel Investors has a consensus rating of "Hold" and an average target price of $12.22.
Shares of NYSE:SHO opened at $12.42 on Wednesday. Sunstone Hotel Investors has a 52-week low of $7.12 and a 52-week high of $13.74. The firm has a fifty day moving average of $11.83 and a 200 day moving average of $12.21. The firm has a market capitalization of $2.72 billion, a PE ratio of -11.94 and a beta of 1.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.14 and a current ratio of 2.14.
Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Tuesday, August 3rd. The real estate investment trust reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.11). Sunstone Hotel Investors had a negative return on equity of 11.15% and a negative net margin of 89.59%. The company had revenue of $117.21 million during the quarter, compared to analysts' expectations of $94.92 million. On average, sell-side analysts forecast that Sunstone Hotel Investors will post 0.04 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Sunstone Hotel Investors by 1.6% during the second quarter. Vanguard Group Inc. now owns 31,416,017 shares of the real estate investment trust's stock valued at $390,186,000 after buying an additional 483,011 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Sunstone Hotel Investors by 4.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 13,525,748 shares of the real estate investment trust's stock valued at $167,990,000 after buying an additional 610,138 shares during the period. Invesco Ltd. grew its holdings in Sunstone Hotel Investors by 36.9% in the second quarter. Invesco Ltd. now owns 13,425,150 shares of the real estate investment trust's stock worth $166,740,000 after purchasing an additional 3,619,443 shares during the period. State Street Corp grew its holdings in Sunstone Hotel Investors by 2.0% in the second quarter. State Street Corp now owns 8,502,847 shares of the real estate investment trust's stock worth $105,605,000 after purchasing an additional 166,171 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Sunstone Hotel Investors by 2.1% in the second quarter. Victory Capital Management Inc. now owns 7,974,108 shares of the real estate investment trust's stock worth $99,038,000 after purchasing an additional 161,084 shares during the period. 97.17% of the stock is owned by hedge funds and other institutional investors.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a real estate investment trust, which engages in the acquisition, ownership, asset management, and renovation of hotels and resorts. It operates under the following brands: Marriott, Hilton, and Hyatt. The company was founded by Robert A. Alter in 1995 and is headquartered in Irvine, CA.
Recommended Story: Trading signals using Bollinger bands
Get a free copy of the Zacks research report on Sunstone Hotel Investors (SHO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Sunstone Hotel Investors, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sunstone Hotel Investors wasn't on the list.
While Sunstone Hotel Investors currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here