Sunstone Hotel Investors (NYSE:SHO) Price Target Raised to $12.00

Sunstone Hotel Investors (NYSE:SHO) had its price objective lifted by Jefferies Financial Group from $10.00 to $12.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Separately, Wells Fargo & Company raised their target price on Sunstone Hotel Investors from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.17.

Sunstone Hotel Investors Price Performance

Shares of NYSE SHO opened at $11.79 on Thursday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.37 billion, a PE ratio of 15.51, a PEG ratio of 6.45 and a beta of 1.25. The stock’s 50 day moving average price is $11.21 and its 200-day moving average price is $10.57. Sunstone Hotel Investors has a twelve month low of $9.39 and a twelve month high of $12.41.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business had revenue of $226.40 million for the quarter, compared to the consensus estimate of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. On average, equities analysts anticipate that Sunstone Hotel Investors will post 0.79 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.05%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors’s payout ratio is 44.74%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its stake in shares of Sunstone Hotel Investors by 368.0% during the second quarter. Millennium Management LLC now owns 1,767,636 shares of the real estate investment trust’s stock valued at $18,489,000 after acquiring an additional 1,389,917 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Sunstone Hotel Investors by 460.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,414,372 shares of the real estate investment trust’s stock worth $14,596,000 after acquiring an additional 1,161,792 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Sunstone Hotel Investors by 31.0% in 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 last quarter. Heitman Real Estate Securities LLC increased its stake in Sunstone Hotel Investors by 976.5% during the 3rd quarter. Heitman Real Estate Securities LLC now owns 1,238,002 shares of the real estate investment trust’s stock valued at $12,776,000 after purchasing an additional 1,123,001 shares in the last quarter. Finally, NFJ Investment Group LLC purchased a new position in Sunstone Hotel Investors in the third quarter worth about $3,220,000. Hedge funds and other 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.