Sunstone Hotel Investors (NYSE:SHO) Will Continue Acquisition Strategy

Sunstone Hotel Investors (NYSE:SHO) had their EBITDA estimates boosted by Jefferies (NYSE:JEF), citing the addition of Doubletree to the consolidated portfolio and the equity offering of the company in November.

Jefferies said shareholders and investors can "expect SHO to remain focused in pursuit of acquisitions and RevPAR to accelerate to market levels as the portfolio stabilizes."

They increased their EBITDA estimates for full year 2011 and full year 2012 from $164.8 million and $189.6 million to $186.6 million and $213.6 million on Sunstone.

Jefferies maintains their "Hold" rating on Sunstone Hotel Investors, which closed Friday at $10.22, gaining $0.41, or 4.18 percent. They increased their price target on Sunstone from $10 to $11.