Sunstone Hotel Investors (NYSE:SHO) Price Target Cut to $8.50 by Analysts at Wells Fargo & Company

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) had its price objective reduced by stock analysts at Wells Fargo & Company from $9.00 to $8.50 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would indicate a potential downside of 4.39% from the stock's previous close.

A number of other equities research analysts have also weighed in on the stock. Evercore ISI upgraded 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 report on Friday, May 16th. Truist Financial cut their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. began coverage on Sunstone Hotel Investors in a report on Monday, June 23rd. They set an "underweight" rating and a $8.00 price target for the company. Morgan Stanley dropped their price objective on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Bank of America raised Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 target price on the stock in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $9.31.

Sunstone Hotel Investors Stock Up 2.4%

NYSE SHO traded up $0.21 during trading hours on Tuesday, hitting $8.89. 265,258 shares of the company were exchanged, compared to its average volume of 2,517,693. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 88.55, a PEG ratio of 2.24 and a beta of 1.27. The company has a 50 day moving average of $8.68 and a two-hundred day moving average of $9.92. Sunstone Hotel Investors has a 52-week low of $7.45 and a 52-week high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 3.85% and a return on equity of 1.93%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 earnings per share. Equities research analysts anticipate that Sunstone Hotel Investors will post 0.79 earnings per share for the current year.

Hedge Funds Weigh In On Sunstone Hotel Investors

A number of hedge funds and other institutional investors have recently made changes to their positions in SHO. Strs Ohio purchased a new stake in Sunstone Hotel Investors during the 1st quarter valued at approximately $358,000. Jane Street Group LLC grew its stake in shares of 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 valued at $4,315,000 after purchasing an additional 303,552 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Sunstone Hotel Investors in the first quarter valued at approximately $120,000. Goldman Sachs Group Inc. increased its holdings in shares of Sunstone Hotel Investors by 132.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,787,519 shares of the real estate investment trust's stock valued at $26,231,000 after purchasing an additional 1,589,258 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Sunstone Hotel Investors by 14.4% during 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 purchasing an additional 300,965 shares during the last quarter. Hedge funds and other 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.

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