Truist keeps a Hold rating on Sunstone Hotel (SHO) Investors after Bloomberg reported that Trinity Investments expressed interest in acquiring Sunstone at about $13 per share. The firm views the recent hotel asset acquisition activity by Trinity and the nature of its existing portfolio of assets as highly complementary to Sunstone’s portfolio. If an offer is ultimately made, Sunstone should consider taking it, the analyst tells investors in a research note. Truist sees an opportunity for Sunstone to push for a somewhat better price, perhaps $14 or $15 per share. The firm thinks a “real opportunity” exists for Sunstone to exit to a “very appropriate theoretical buyer.”
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SHO:
- AT&T announces long-term targets, BlackRock acquires HPS: Morning Buzz
- Lodging REIT sector should rally after Bloomberg report on Sunstone, says Stifel
- Trinity Investments interested in acquiring Sunstone Hotel, Bloomberg says
- Sunstone Hotel Investors Faces Challenges, Eyes Growth
- Sunstone Hotel narrows 2024 adjusted FFO view to 79c-84c from 72c-84c
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
