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SHO

Sunstone Hotel

$13.54

-0.01 (-0.07%)

06:28
07/17/19
07/17
06:28
07/17/19
06:28

Sunstone Hotel downgraded to Underperform from Neutral at BofA/Merrill

BofA/Merrill analyst Shaun Kelley downgraded Sunstone Hotel (SHO) to Underperform from Neutral and lowered his price target for the shares to $13.50 from $15. The analyst expects a more cautious tone from Lodging companies during the Q2 earnings reports, particularly on corporate demand. He thinks full year guidance cuts "are now on the table" and downgraded Sunstone to reflect greater uncertainty. He continues to favor asset-light C-corps like Hilton (HLT), Marriott (MAR) and Wyndham Hotels & Resorts (WH) over the "more cyclical" Lodging real estate investment trusts.

  • 02

    Aug

SHO Sunstone Hotel
$13.54

-0.01 (-0.07%)

12/11/18
WELS
12/11/18
NO CHANGE
WELS
Lodging sector downgraded to Underweight from Market Weight at Wells Fargo
Wells Fargo analyst Jeffrey Donnelly downgraded his sector rating on the Lodging sector to Underweight from Market Weight. Deceleration in the outlook for domestic and global growth, rising labor costs and turnover, as well as the yield curve signaling higher risk of a nearing recession, will collectively make it challenging for the hotel sector to deliver accelerating growth and outperform, Donnelly tells investors in a research note. Within the sector, the analyst believes hotel brands are better positioned to outperform the hotel real estate investment trusts "given their healthy unit growth and lower sensitivity to economic shifts in the short run." He lowered his price target for Market Perform-rated Choice Hotels (CHH) to $80 from $82, for Outperform-rated Hilton (HLT) to $74 from $81, for Market Perform-rated Marriott (MAR) to $119 from $127, for Market Perform-rated RLJ Lodging Trust to $19 from $20, for Market Perform-rated Sunstone Hotel (SHO) to $15 from $16 and for Market Perform-rated Xenia Hotels (XHR) to $20 from $21.
12/18/18
LEHM
12/18/18
DOWNGRADE
Target $16
LEHM
Equal Weight
Sunstone Hotel downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Anthony Powell downgraded Sunstone Hotel Investors to Equal Weight and lowered his price target for the shares to $16 from $18. The analyst sees less multiple expansion for Sunstone in the near-term as its RevPAR growth reverts closer to the peer average. Further, challenges remain with the company's deployment of investment capacity, Powell tells investors in a research note.
12/20/18
MSCO
12/20/18
DOWNGRADE
MSCO
Underweight
Host Hotels, Xenia Hotels downgraded to Underweight at Morgan Stanley
Morgan Stanley analyst Thomas Allen noted that his firm's economists expect business investment spending growth to slow from 6.6% in 2018 to 2.6% in 2019 and GDP growth to slow to 2.3% from 2.9%, adding that history suggests that U.S. hotel room nights should come under pressure due to reduced corporate demand in such a scenario. Given this context, Allen downgraded both Host Hotels (HST) and Xenia Hotels (XHR), each to Underweight from Equal Weight, stating that if RevPAR comes in weaker than expected, and cost inflation accelerates, they are at risk. Allen lowered his price target on Host to $16 from $21 and on Xenia to $17 from $22. Adding that he expects the Lodging REITs he covers to miss comparable consensus EBITDA expectations by 3% in 2019, Allen also lowered his price target on DiamondRock (DRH) to $8 from $11 and on Sunstone Hotel (SHO) to $12 from $15.
06/27/19
WELS
06/27/19
UPGRADE
Target $15
WELS
Outperform
Sunstone Hotel upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Jeffrey Donnelly last night upgraded Sunstone Hotel to Outperform from Market Perform with an unchanged price target of $15. The company's low leverage and net asset value discount could lead to share repurchases, Donnelly tells investors in a research note. Further, the analyst believes the company's 2019 guidance is "relatively more achievable" as compared to select peers.

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