Sunstone Hotel Investors, Inc. (NYSE:SHO) has garnered a consensus recommendation of “Hold” from ten brokerages actively monitoring the stock, according to MarketBeat. The consensus reflects a mix of perspectives, with three analysts advising a sell, four recommending a hold, and three suggesting a buy.
The average one-year price target among these analysts stands at approximately $9.38. Recent analyses have provided insights into the varying ratings assigned to the company. For instance, on January 21, 2024, Weiss Ratings reaffirmed its “hold (C-)” rating on the shares of Sunstone Hotel Investors. Conversely, Wells Fargo & Company upgraded the stock from an “equal weight” rating to an “overweight” rating, increasing their target price from $10.00 to $11.00 on January 5, 2024.
In contrast, Zacks Research adjusted its rating, downgrading Sunstone shares from “hold” to “strong sell” on January 14, 2024. Additionally, Robert W. Baird maintained a “neutral” rating with a price target set at $10.00 on January 12, 2024. Notably, on November 16, 2023, Wall Street Zen lowered its rating from “hold” to “sell”.
Institutional Investors Adjust Holdings
Several hedge funds and institutional investors have also made significant changes to their holdings in Sunstone Hotel Investors. Hantz Financial Services Inc. dramatically increased its stake by 951.7% in the second quarter, now owning 3,008 shares valued at approximately $26,000 after acquiring an additional 2,722 shares.
Similarly, Kestra Advisory Services LLC entered the market with a new stake during the fourth quarter, valued at around $26,000. Assetmark Inc. augmented its position by 210.4% during the same quarter, now holding 3,635 shares worth about $32,000 after purchasing an additional 2,464 shares.
Furthermore, Mirae Asset Global Investments Co. Ltd. increased its stake by 27.4%, owning 5,274 shares valued at approximately $47,000 after acquiring an additional 1,135 shares. Blue Trust Inc. also expanded its holdings by 46.8%, now possessing 6,544 shares valued at about $57,000.
Institutional investors and hedge funds collectively own an impressive 99.37% of Sunstone Hotel Investors’ stock, reflecting strong confidence in the company’s operations.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc. is a publicly traded real estate investment trust (REIT) that specializes in acquiring, owning, and managing upper-upscale extended-stay and premium-branded hotel properties throughout the United States. The company’s business strategy focuses on generating stable, long-term cash flows through franchise agreements and third-party management contracts with well-established hotel operators.
As of the latest reporting period, Sunstone’s portfolio comprises approximately 97 hotels and nearly 25,000 guest rooms across 19 states, with a concentration in major metropolitan areas and select high-growth secondary markets. This diversified portfolio positions Sunstone Hotel Investors as a significant player in the hospitality sector, aiming to deliver consistent returns to its investors.
