Sunstone could push for better than $13 per share buyout, says Truist

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.”