Sunstone Hotel Investors (NYSE:SHO) Now Covered by JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. assumed coverage on shares of Sunstone Hotel Investors (NYSE:SHO - Get Free Report) in a report released on Monday, MarketBeat reports. The brokerage set an "underweight" rating and a $8.00 price target on the real estate investment trust's stock. JPMorgan Chase & Co.'s target price would indicate a potential downside of 8.52% from the stock's previous close.

Other research analysts also recently issued reports about the company. Truist Financial decreased their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating for the company in a research note on Friday, March 21st. Jefferies Financial Group decreased their price objective on Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Morgan Stanley dropped their price target on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Evercore ISI raised shares of Sunstone Hotel Investors from an "in-line" rating to an "outperform" rating and set a $10.00 price objective on the stock in a research note on Friday, May 16th. Finally, Bank of America raised shares of Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 price target on the stock in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $9.75.

Sunstone Hotel Investors Stock Up 0.3%

Sunstone Hotel Investors stock traded up $0.03 during mid-day trading on Monday, hitting $8.75. 2,659,547 shares of the company's stock were exchanged, compared to its average volume of 2,472,188. The stock has a 50 day moving average of $8.62 and a two-hundred day moving average of $10.04. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.47. Sunstone Hotel Investors has a 1-year low of $7.45 and a 1-year high of $12.41. The stock has a market cap of $1.74 billion, a P/E ratio of 87.45, a P/E/G ratio of 2.18 and a beta of 1.27.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $234.07 million for the quarter, compared to analyst estimates of $243.34 million. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. As a group, analysts anticipate that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Sunstone Hotel Investors

Several large investors have recently made changes to their positions in SHO. Strs Ohio bought a new stake in shares of Sunstone Hotel Investors in the first quarter worth approximately $358,000. Jane Street Group LLC boosted its holdings in Sunstone Hotel Investors by 195.9% in the 1st quarter. Jane Street Group LLC now owns 458,518 shares of the real estate investment trust's stock worth $4,315,000 after buying an additional 303,552 shares during the period. United Services Automobile Association bought a new stake in Sunstone Hotel Investors during the 1st quarter valued at approximately $120,000. Goldman Sachs Group Inc. boosted its position in shares of Sunstone Hotel Investors by 132.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,787,519 shares of the real estate investment trust's stock worth $26,231,000 after acquiring an additional 1,589,258 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Sunstone Hotel Investors by 14.4% in the first quarter. Millennium Management LLC now owns 2,392,774 shares of the real estate investment trust's stock worth $22,516,000 after buying an additional 300,965 shares in the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.

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.