Sunstone Hotel Investors (NYSE:SHO) Given New $10.00 Price Target at Truist Financial

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 firm presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price target would indicate a potential upside of 5.32% from the company's previous close.

SHO has been the subject of several other reports. 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 research note on Tuesday, July 1st. Evercore ISI upped their price target on shares of Sunstone Hotel Investors from $10.00 to $11.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. began 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. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Sunstone Hotel Investors presently has an average rating of "Hold" and a consensus price target of $8.93.

Sunstone Hotel Investors Trading Down 0.7%

NYSE:SHO traded down $0.07 on Wednesday, reaching $9.50. The company's stock had a trading volume of 618,583 shares, compared to its average volume of 2,362,091. The firm has a market cap of $1.80 billion, a PE ratio of 476.49, a PEG ratio of 3.50 and a beta of 1.29. The business's 50-day moving average price is $9.05 and its two-hundred day moving average price is $9.03. Sunstone Hotel Investors has a 1-year low of $7.45 and a 1-year 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 issued its quarterly 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. Sunstone Hotel Investors had a return on equity of 1.12% and a net margin of 2.15%.The business had revenue of $259.77 million for the quarter, compared to the consensus estimate of $256.68 million. During the same quarter in the prior year, the business posted $0.28 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Sunstone Hotel Investors will post 0.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV purchased a new stake in Sunstone Hotel Investors during the 4th quarter valued at $190,000. GAMMA Investing LLC boosted its stake 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 acquiring an additional 1,560 shares in the last quarter. Nuveen LLC purchased a new position in shares of Sunstone Hotel Investors during the first quarter worth $10,858,000. Northern Trust Corp raised its position in shares of Sunstone Hotel Investors by 0.7% in the first quarter. Northern Trust Corp now owns 3,180,251 shares of the real estate investment trust's stock worth $29,926,000 after acquiring an additional 20,843 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Sunstone Hotel Investors in the 1st quarter valued at about $1,504,000. 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.