Sunstone Hotel Investors (NYSE:SHO) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

Sunstone Hotel Investors (NYSE:SHO) had its target price decreased by Wells Fargo & Company from $13.00 to $12.00 in a research report sent to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the stock. Morgan Stanley restated an “underweight” rating and set a $10.00 target price on shares of Sunstone Hotel Investors in a research report on Tuesday, January 14th. Jefferies Financial Group increased their price target on Sunstone Hotel Investors from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sunstone Hotel Investors presently has a consensus rating of “Hold” and a consensus price target of $11.71.

Sunstone Hotel Investors Trading Up 2.2 %

Shares of SHO stock opened at $11.45 on Tuesday. The firm has a fifty day moving average of $11.70 and a 200-day moving average of $10.85. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 3.78 and a beta of 1.20. Sunstone Hotel Investors has a 52-week low of $9.39 and a 52-week high of $12.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98.

Hedge Funds Weigh In On Sunstone Hotel Investors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 1,130,558 shares during the period. Principal Financial Group Inc. grew its stake in shares of Sunstone Hotel Investors by 11.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,120,710 shares of the real estate investment trust’s stock valued at $11,566,000 after buying an additional 116,058 shares during the period. Intech Investment Management LLC bought a new stake in Sunstone Hotel Investors in the 3rd quarter valued at about $573,000. NFJ Investment Group LLC acquired a new position in Sunstone Hotel Investors during the 3rd quarter worth approximately $3,220,000. Finally, Geode Capital Management LLC boosted its holdings in Sunstone Hotel Investors by 2.1% in the third quarter. Geode Capital Management LLC now owns 5,247,927 shares of the real estate investment trust’s stock worth $54,169,000 after acquiring an additional 109,327 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

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.