JPMorgan Chase & Co. Begins Coverage on Sunstone Hotel Investors (NYSE:SHO)

Equities research analysts at JPMorgan Chase & Co. began coverage on shares of Sunstone Hotel Investors (NYSE:SHO) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set an “underweight” rating and a $8.00 price target on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 8.52% from the company’s current price.

A number of other equities research analysts have also weighed in on SHO. Bank of America upgraded Sunstone Hotel Investors from an “underperform” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group dropped their price target on Sunstone Hotel Investors from $12.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Truist Financial dropped their price target on Sunstone Hotel Investors from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Evercore ISI upgraded Sunstone Hotel Investors from an “in-line” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Friday, May 16th. Finally, Morgan Stanley dropped their target price on Sunstone Hotel Investors from $9.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.75.

Sunstone Hotel Investors Price Performance

Shares of SHO stock opened at $8.75 on Monday. Sunstone Hotel Investors has a fifty-two week low of $7.45 and a fifty-two week high of $12.41. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 87.45, a PEG ratio of 2.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.89 and a current ratio of 2.89. The stock’s 50-day simple moving average is $8.63 and its 200-day simple moving average is $10.03.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Sunstone Hotel Investors had a return on equity of 1.93% and a net margin of 3.85%. The business had revenue of $234.07 million for the quarter, compared to analyst estimates of $243.34 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Sunstone Hotel Investors will post 0.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sunstone Hotel Investors

A number of large investors have recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV boosted its position in Sunstone Hotel Investors by 3.9% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 33,889 shares of the real estate investment trust’s stock worth $406,000 after purchasing an additional 1,258 shares in the last quarter. AQR Capital Management LLC boosted its position in Sunstone Hotel Investors by 1.6% in the 1st quarter. AQR Capital Management LLC now owns 83,864 shares of the real estate investment trust’s stock worth $789,000 after purchasing an additional 1,307 shares in the last quarter. Xponance Inc. boosted its position in Sunstone Hotel Investors by 10.9% in the 4th quarter. Xponance Inc. now owns 14,709 shares of the real estate investment trust’s stock worth $174,000 after purchasing an additional 1,441 shares in the last quarter. GAMMA Investing LLC boosted its position in Sunstone Hotel Investors by 47.7% in the 1st quarter. GAMMA Investing LLC now owns 4,831 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Aberdeen Group plc boosted its position in Sunstone Hotel Investors by 2.3% in the 1st quarter. Aberdeen Group plc now owns 73,502 shares of the real estate investment trust’s stock worth $692,000 after purchasing an additional 1,669 shares in the last quarter. 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.