Sunstone Hotel Investors (NYSE:SHO) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Sunstone Hotel Investors (NYSE:SHO) from a sell rating to a hold rating in a research report report published on Wednesday morning.

A number of other brokerages have also recently commented on SHO. Baird R W upgraded shares of Sunstone Hotel Investors to a strong-buy rating in a research note on Tuesday, May 28th. Wolfe Research upgraded shares of Sunstone Hotel Investors from a peer perform rating to an outperform rating and set a $12.00 price target on the stock in a research note on Wednesday, July 10th. Compass Point upgraded shares of Sunstone Hotel Investors from a sell rating to a neutral rating and upped their price target for the company from $10.00 to $12.00 in a research note on Tuesday, May 7th. Truist Financial dropped their price target on shares of Sunstone Hotel Investors from $13.00 to $12.00 and set a hold rating on the stock in a research note on Thursday, May 30th. Finally, Robert W. Baird upgraded shares of Sunstone Hotel Investors from a neutral rating to an outperform rating and upped their price target for the company from $11.00 to $12.00 in a research note on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $10.75.

Sunstone Hotel Investors Stock Up 2.1 %

SHO opened at $10.40 on Wednesday. The company has a quick ratio of 8.17, a current ratio of 8.17 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 4.82 and a beta of 1.24. Sunstone Hotel Investors has a twelve month low of $8.61 and a twelve month high of $11.59. The company’s 50-day moving average price is $10.26 and its two-hundred day moving average price is $10.59.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Monday, May 6th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). The company had revenue of $217.17 million during the quarter, compared to analysts’ expectations of $212.00 million. Sunstone Hotel Investors had a net margin of 20.69% and a return on equity of 10.75%. As a group, equities analysts expect that Sunstone Hotel Investors will post 0.9 earnings per share for the current year.

Sunstone Hotel Investors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Friday, June 28th. This is a positive change from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. Sunstone Hotel Investors’s dividend payout ratio is 33.33%.

Hedge Funds Weigh In On Sunstone Hotel Investors

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in shares of Sunstone Hotel Investors by 572.0% in the 1st quarter. Russell Investments Group Ltd. now owns 219,000 shares of the real estate investment trust’s stock worth $2,440,000 after buying an additional 186,413 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Sunstone Hotel Investors by 7.8% in 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 buying an additional 236,708 shares during the last quarter. Norges Bank bought a new position in shares of Sunstone Hotel Investors in the 4th quarter worth $14,656,000. Balyasny Asset Management L.P. increased its holdings in shares of Sunstone Hotel Investors by 313.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 3,873,721 shares of the real estate investment trust’s stock worth $41,565,000 after buying an additional 2,937,603 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Sunstone Hotel Investors during the 1st quarter valued at $1,657,000. 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.