KBW Maintains Outperform on Sunstone Hotel Investors (SHO)

KBW is out with its report on Sunstone Hotel Investors

, maintaining Outperform. In a note to clients, KBW writes, "SHO provided its March business update and expects 1Q same-store RevPAR growth of 5.4%. The company also announced the acquisition of the Hilton San Diego Bayfront Hotel for $475MM and the sale of the Royal Palm Miami Beach for $130MM. Management noted that consensus 2011E EBITDA is likely conservative." KBW maintains a $12.50 PT on SHO. Shares of SHO closed Wednesday at $10.29, up 0.78% from Tuesday's close.