UPDATE: Stifel Downgrades Sunstone Hotel Investors on Share Outperformance

In a report published Monday, Stifel analyst Rod Petrik downgraded the rating on Sunstone Hotel Investors SHO from Buy to Hold, and removed the $14.00 price target. In the report, Stifel noted, “We are downgrading Sunstone Hotel Investors to Hold from Buy as the company's share price has exceeded our $14 target price. SHO's shares are up 194.0% since October 4, 2011 vs the RMS +58.2%. YTD shares are +31.0% vs the RMS +10.9%. The outperformance can be attributed to the successful execution of the company's business plan to de-lever without diluting shareholders.” Sunstone Hotel Investors closed on Friday at $14.06.