Sunstone Hotel Investors (NYSE:SHO) Rating Increased to Buy at Bank of America

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) was upgraded by equities research analysts at Bank of America from an "underperform" rating to a "buy" rating in a report issued on Wednesday, Marketbeat reports. The firm currently has a $10.00 price target on the real estate investment trust's stock. Bank of America's price target would indicate a potential upside of 15.22% from the company's previous close.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company reduced their target price on Sunstone Hotel Investors from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Morgan Stanley reduced their price target on Sunstone Hotel Investors from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI decreased their price objective on Sunstone Hotel Investors from $12.00 to $10.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Truist Financial dropped their target price on shares of Sunstone Hotel Investors from $12.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, March 21st. Finally, Jefferies Financial Group decreased their price target on shares of Sunstone Hotel Investors from $12.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.44.

Sunstone Hotel Investors Price Performance

NYSE:SHO traded down $0.05 during trading hours on Wednesday, hitting $8.68. The stock had a trading volume of 548,917 shares, compared to its average volume of 2,338,440. The company has a 50 day simple moving average of $9.14 and a two-hundred day simple moving average of $10.50. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 4.52 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. Sunstone Hotel Investors has a one year low of $7.45 and a one year high of $12.41.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The business had revenue of $214.77 million for the quarter, compared to the consensus estimate of $211.17 million. Research analysts forecast that Sunstone Hotel Investors will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of Sunstone Hotel Investors

Several large investors have recently bought and sold shares of the stock. Barclays PLC grew its position in Sunstone Hotel Investors by 304.9% during the 3rd quarter. Barclays PLC now owns 343,018 shares of the real estate investment trust's stock worth $3,540,000 after purchasing an additional 258,302 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Sunstone Hotel Investors by 11.6% in the third quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust's stock worth $11,566,000 after buying an additional 116,058 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Sunstone Hotel Investors by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 4,775,533 shares of the real estate investment trust's stock worth $49,284,000 after acquiring an additional 1,130,558 shares during the period. GAMMA Investing LLC raised its position in Sunstone Hotel Investors by 114.1% during the fourth quarter. GAMMA Investing LLC now owns 3,271 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 1,743 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in Sunstone Hotel Investors by 13.7% in the fourth quarter. Diversified Trust Co now owns 40,697 shares of the real estate investment trust's stock valued at $482,000 after acquiring an additional 4,897 shares during the period. Hedge funds and other institutional investors own 99.37% of the company's stock.

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.