Sunstone Hotel Investors (NYSE:SHO) Reaches New 12-Month Low at $9.92

Shares of Sunstone Hotel Investors, Inc. (NYSE:SHOGet Rating) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $9.92 and last traded at $9.98, with a volume of 213949 shares changing hands. The stock had previously closed at $10.80.

A number of research firms have issued reports on SHO. Truist Financial boosted their price target on Sunstone Hotel Investors from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, June 1st. Evercore ISI raised Sunstone Hotel Investors from an “in-line” rating to an “outperform” rating in a research report on Tuesday, March 1st. Barclays downgraded Sunstone Hotel Investors from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $15.00 to $11.00 in a research report on Tuesday, March 1st. Finally, StockNews.com raised Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Monday, May 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Sunstone Hotel Investors currently has an average rating of “Hold” and an average target price of $12.50.

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $11.70 and a 200 day moving average of $11.48. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 26.86 and a beta of 1.17.

Sunstone Hotel Investors (NYSE:SHOGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $172.30 million during the quarter, compared to the consensus estimate of $157.67 million. Sunstone Hotel Investors had a net margin of 15.57% and a return on equity of 5.20%. The firm’s quarterly revenue was up 240.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) earnings per share. As a group, equities research analysts expect that Sunstone Hotel Investors, Inc. will post 0.61 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Sunstone Hotel Investors by 40.7% during the first quarter. Bank of America Corp DE now owns 394,429 shares of the real estate investment trust’s stock valued at $4,646,000 after purchasing an additional 114,181 shares during the last quarter. Verition Fund Management LLC bought a new position in Sunstone Hotel Investors in the 1st quarter worth approximately $722,000. The Manufacturers Life Insurance Company grew its holdings in Sunstone Hotel Investors by 74.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,337,480 shares of the real estate investment trust’s stock worth $27,536,000 after buying an additional 999,493 shares in the last quarter. Virtu Financial LLC grew its holdings in Sunstone Hotel Investors by 64.5% in the 1st quarter. Virtu Financial LLC now owns 31,043 shares of the real estate investment trust’s stock worth $366,000 after buying an additional 12,168 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Sunstone Hotel Investors by 97.8% in the 1st quarter. Jane Street Group LLC now owns 44,459 shares of the real estate investment trust’s stock worth $524,000 after buying an additional 21,979 shares in the last quarter.

Sunstone Hotel Investors Company Profile (NYSE:SHO)

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release has interests in 19 hotels comprised of 9,997 rooms. Sunstone's business is to acquire, own, asset manage and renovate or reposition hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.

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