Sunstone Hotel Investors (NYSE:SHO) Stock Rating Upgraded by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Sunstone Hotel Investors (NYSE:SHO) from an underweight rating to an equal weight rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The firm currently has $10.50 price target on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. Wolfe Research raised Sunstone Hotel Investors from a peer perform rating to an outperform rating and set a $12.00 target price on the stock in a research note on Wednesday, July 10th. Robert W. Baird upgraded shares of Sunstone Hotel Investors from a neutral rating to an outperform rating and boosted their price objective for the company from $11.00 to $12.00 in a report on Tuesday, May 28th. StockNews.com lowered shares of Sunstone Hotel Investors from a hold rating to a sell rating in a report on Thursday, August 1st. Truist Financial decreased their price target on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a hold rating for the company in a report on Thursday, May 30th. Finally, Baird R W upgraded shares of Sunstone Hotel Investors to a strong-buy rating in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sunstone Hotel Investors currently has a consensus rating of Hold and an average price target of $11.07.

Sunstone Hotel Investors Stock Performance

Shares of NYSE:SHO opened at $10.16 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors has a 1-year low of $8.89 and a 1-year high of $11.59. The stock has a market capitalization of $2.07 billion, a P/E ratio of 11.30, a P/E/G ratio of 4.22 and a beta of 1.25. The business has a 50-day moving average price of $10.16 and a two-hundred day moving average price of $10.40.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.16). Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The business had revenue of $247.50 million during the quarter, compared to analyst estimates of $248.12 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts predict that Sunstone Hotel Investors will post 0.89 earnings per share for the current year.

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 33.33%.

Hedge Funds Weigh In On Sunstone Hotel Investors

Large investors have recently modified their holdings of the business. Balyasny Asset Management L.P. grew its stake in Sunstone Hotel Investors by 313.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock valued at $41,565,000 after purchasing an additional 2,937,603 shares in the last quarter. Millennium Management LLC raised its stake in shares of Sunstone Hotel Investors by 368.0% during the 2nd quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock worth $18,489,000 after purchasing an additional 1,389,917 shares in the last quarter. Norges Bank bought a new stake in shares of Sunstone Hotel Investors during the 4th quarter worth approximately $14,656,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Sunstone Hotel Investors by 318.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,367,061 shares of the real estate investment trust’s stock worth $14,299,000 after purchasing an additional 1,039,986 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Sunstone Hotel Investors by 7.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,281,393 shares of the real estate investment trust’s stock worth $35,209,000 after purchasing an additional 236,708 shares in the last quarter. 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.