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

Sunstone Hotel Investors (NYSE:SHO - Free Report) had its price objective trimmed by Wells Fargo & Company from $9.00 to $8.50 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust's stock.

SHO has been the topic of several other research reports. Morgan Stanley reduced their price target on shares of Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. assumed coverage on shares of Sunstone Hotel Investors in a research note on Monday, June 23rd. They issued an "underweight" rating and a $8.00 target price for the company. Truist Financial decreased their price target on shares of 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. Evercore ISI upgraded 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 report on Friday, May 16th. Finally, Bank of America upgraded Sunstone Hotel Investors from an "underperform" rating to a "buy" rating and set a $10.00 target price for the company in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $9.31.

Sunstone Hotel Investors Price Performance

NYSE:SHO traded up $0.01 on Tuesday, reaching $8.93. The stock had a trading volume of 2,102,200 shares, compared to its average volume of 2,533,844. 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 company has a market capitalization of $1.78 billion, a P/E ratio of 89.30, a price-to-earnings-growth ratio of 2.24 and a beta of 1.25. Sunstone Hotel Investors has a 1-year low of $7.45 and a 1-year high of $12.41. The stock has a fifty day moving average price of $8.74 and a 200-day moving average price of $9.86.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last announced its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The business had revenue of $234.07 million for the quarter, compared to the consensus estimate of $243.34 million. During the same period in the previous year, the business earned $0.18 EPS. Sunstone Hotel Investors's revenue was up 7.8% compared to the same quarter last year. Research analysts forecast that Sunstone Hotel Investors will post 0.79 EPS for the current year.

Sunstone Hotel Investors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.09 per share. The ex-dividend date is Monday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 4.03%. Sunstone Hotel Investors's payout ratio is currently 360.00%.

Institutional Trading of Sunstone Hotel Investors

A number of hedge funds have recently modified their holdings of SHO. Mercer Global Advisors Inc. ADV bought a new stake in Sunstone Hotel Investors in the fourth quarter valued at approximately $190,000. Inceptionr LLC grew its holdings in shares of Sunstone Hotel Investors by 53.1% in the 4th quarter. Inceptionr LLC now owns 16,529 shares of the real estate investment trust's stock valued at $196,000 after buying an additional 5,731 shares during the period. Xponance Inc. increased its position in shares of Sunstone Hotel Investors by 10.9% in the 4th quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust's stock valued at $174,000 after buying an additional 1,441 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Sunstone Hotel Investors by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,156,930 shares of the real estate investment trust's stock worth $49,218,000 after buying an additional 74,952 shares during the period. Finally, Natixis Advisors LLC lifted its holdings in Sunstone Hotel Investors by 19.0% during the fourth quarter. Natixis Advisors LLC now owns 84,116 shares of the real estate investment trust's stock worth $996,000 after acquiring an additional 13,446 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

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.