Sunstone Hotel Investors (NYSE:SHO) Given New $13.00 Price Target at Wells Fargo & Company

Sunstone Hotel Investors (NYSE:SHO) had its target price raised by Wells Fargo & Company from $11.00 to $13.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Sunstone Hotel Investors Trading Up 0.5 %

Shares of NYSE:SHO opened at $12.13 on Monday. The business’s 50-day moving average is $10.54 and its 200 day moving average is $10.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98. Sunstone Hotel Investors has a 1 year low of $9.39 and a 1 year high of $12.34. The firm has a market capitalization of $2.44 billion, a P/E ratio of 15.95, a P/E/G ratio of 6.41 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $226.40 million for the quarter, compared to analyst estimates of $224.61 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. On average, research analysts predict that Sunstone Hotel Investors will post 0.78 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company 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 $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Sunstone Hotel Investors’s payout ratio is 44.74%.

Institutional Investors Weigh In On Sunstone Hotel Investors

A number of large investors have recently bought and sold shares of SHO. Principal Financial Group Inc. grew its holdings in Sunstone Hotel Investors by 11.6% during the third quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust’s stock worth $11,566,000 after acquiring an additional 116,058 shares during the period. Intech Investment Management LLC acquired a new stake in Sunstone Hotel Investors during the third quarter valued at $573,000. American Century Companies Inc. raised its position in shares of Sunstone Hotel Investors by 170.5% in the second quarter. American Century Companies Inc. now owns 199,580 shares of the real estate investment trust’s stock worth $2,088,000 after acquiring an additional 125,809 shares during the period. NFJ Investment Group LLC acquired a new stake in shares of Sunstone Hotel Investors during the 3rd quarter valued at about $3,220,000. Finally, Miller Howard Investments Inc. NY acquired a new position in Sunstone Hotel Investors in the 2nd quarter worth about $303,000. Hedge funds and other 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.