Truist Financial Cuts Sunstone Hotel Investors (NYSE:SHO) Price Target to $10.00

Key Points

• Truist Financial has lowered its price target for Sunstone Hotel Investors from $11.00 to $10.00, maintaining a "hold" rating on the stock, which indicates a potential upside of 6.89% from the previous closing price.
• Multiple analysts have varying views on the stock; while JPMorgan set a price target of $8.00 with an "underweight" rating, Evercore ISI raised theirs to $11.00 with an "outperform" rating.
• Sunstone Hotel Investors reported a quarterly earnings per share of $0.28, surpassing analysts' expectations, with revenue reaching $259.77 million, reflecting a 5.0% year-over-year growth.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) had its target price lowered by equities researchers at Truist Financial from $11.00 to $10.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price target points to a potential upside of 4.66% from the stock's current price.

A number of other equities research analysts have also weighed in on SHO. Evercore ISI raised their price target on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Wells Fargo & Company lowered their price target on shares of Sunstone Hotel Investors from $9.00 to $8.50 and set an "equal weight" rating for the company in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. assumed 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 for the company. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Sunstone Hotel Investors has an average rating of "Hold" and a consensus price target of $8.93.

Sunstone Hotel Investors Trading Down 0.5%

SHO traded down $0.05 on Wednesday, reaching $9.56. 1,494,882 shares of the company's stock were exchanged, compared to its average volume of 2,233,817. The company's 50 day moving average is $9.05 and its 200-day moving average is $9.05. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 477.99, a PEG ratio of 3.50 and a beta of 1.29. Sunstone Hotel Investors has a twelve month low of $7.45 and a twelve month high of $12.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.73 and a current ratio of 2.73.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. The firm had revenue of $259.77 million during the quarter, compared to the consensus estimate of $256.68 million. Sunstone Hotel Investors had a net margin of 2.15% and a return on equity of 1.12%. The company's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. Equities analysts predict that Sunstone Hotel Investors will post 0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its holdings in shares of Sunstone Hotel Investors by 0.7% during the second quarter. California State Teachers Retirement System now owns 178,604 shares of the real estate investment trust's stock valued at $1,550,000 after acquiring an additional 1,170 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in Sunstone Hotel Investors by 3.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 33,889 shares of the real estate investment trust's stock valued at $406,000 after buying an additional 1,258 shares in the last quarter. AQR Capital Management LLC boosted its position in Sunstone Hotel Investors by 1.6% in the first quarter. AQR Capital Management LLC now owns 83,864 shares of the real estate investment trust's stock valued at $789,000 after buying an additional 1,307 shares in the last quarter. GAMMA Investing LLC boosted its position in Sunstone Hotel Investors by 47.7% in the first quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 1,560 shares in the last quarter. Finally, Ethic Inc. boosted its position in Sunstone Hotel Investors by 12.7% in the second quarter. Ethic Inc. now owns 13,936 shares of the real estate investment trust's stock valued at $124,000 after buying an additional 1,573 shares in the last quarter. Institutional investors and hedge funds 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.