Sunstone Hotel Investors (NYSE:SHO) Price Target Raised to $11.00

Key Points

• Evercore ISI has raised its price target for Sunstone Hotel Investors from $10.00 to $11.00, suggesting a potential upside of 21.88% from its previous close.
• Sunstone Hotel Investors reported quarterly earnings of $0.21 per share, which surpassed analysts' expectations of $0.18, with a year-over-year revenue increase of 7.8%.
• The stock currently holds an average rating of "Hold" from research analysts, with a collective target price of approximately $9.07.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) had its price objective hoisted by analysts at Evercore ISI from $10.00 to $11.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. Evercore ISI's price target suggests a potential upside of 21.88% from the company's previous close.

A number of other research analysts also recently weighed in on SHO. JPMorgan Chase & Co. initiated coverage on shares of Sunstone Hotel Investors in a report on Monday, June 23rd. They set an "underweight" rating and a $8.00 price target on the stock. Jefferies Financial Group cut their price target on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Bank of America upgraded 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. Morgan Stanley lowered 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, Wells Fargo & Company lowered their price objective on Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating on the stock in a report on Tuesday, July 1st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $9.07.

Sunstone Hotel Investors Trading Up 0.8%

Shares of NYSE:SHO opened at $9.03 on Monday. The firm has a fifty day moving average of $8.86 and a two-hundred day moving average of $9.52. The firm has a market capitalization of $1.79 billion, a P/E ratio of 90.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. Sunstone Hotel Investors has a 12-month low of $7.45 and a 12-month high of $12.41. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.47.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. The company had revenue of $234.07 million during 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 company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. On average, equities analysts expect that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC raised its stake in Sunstone Hotel Investors by 579.8% during the 2nd quarter. CWM LLC now owns 8,029 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 6,848 shares during the last quarter. Blue Trust Inc. raised its stake in Sunstone Hotel Investors by 46.8% during the 2nd quarter. Blue Trust Inc. now owns 6,544 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 2,087 shares during the last quarter. KLP Kapitalforvaltning AS raised its stake in Sunstone Hotel Investors by 6.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 42,400 shares of the real estate investment trust's stock valued at $371,000 after purchasing an additional 2,500 shares during the last quarter. 111 Capital acquired a new position in Sunstone Hotel Investors during the 2nd quarter valued at $87,000. Finally, ZWJ Investment Counsel Inc. acquired a new position in Sunstone Hotel Investors during the 2nd quarter valued at $104,000. 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.

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