Sunstone Hotel Investors, Inc. (NYSE:SHO) issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01, Bloomberg Earnings reports. The business had revenue of $318.80 million for the quarter, compared to analysts’ expectations of $316.96 million. Sunstone Hotel Investors had a net margin of 15.41% and a return on equity of 7.70%. The company’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 EPS. Sunstone Hotel Investors updated its Q3 guidance to $0.29 to $0.31 EPS.
Shares of Sunstone Hotel Investors (NYSE SHO) traded down 1.60% on Friday, reaching $15.41. 2,576,479 shares of the company’s stock were exchanged. Sunstone Hotel Investors has a one year low of $12.14 and a one year high of $16.86. The firm has a 50 day moving average of $16.03 and a 200 day moving average of $15.55. The firm has a market capitalization of $3.47 billion, a P/E ratio of 19.99 and a beta of 1.17.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.30%. Sunstone Hotel Investors’s payout ratio is 25.64%.
A number of research analysts recently weighed in on SHO shares. Zacks Investment Research upgraded shares of Sunstone Hotel Investors from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Wednesday, May 17th. BidaskClub downgraded shares of Sunstone Hotel Investors from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 1st. Finally, Canaccord Genuity reiterated a “buy” rating and set a $17.00 price target on shares of Sunstone Hotel Investors in a report on Wednesday, May 3rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $15.64.
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Hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Sunstone Hotel Investors by 6.0% in the first quarter. Envestnet Asset Management Inc. now owns 7,919 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 449 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Sunstone Hotel Investors during the fourth quarter worth approximately $166,000. Paragon Capital Management Ltd acquired a new position in shares of Sunstone Hotel Investors during the first quarter worth approximately $167,000. Greenwich Wealth Management LLC acquired a new position in shares of Sunstone Hotel Investors during the first quarter worth approximately $170,000. Finally, Breton Hill Capital Ltd. acquired a new position in shares of Sunstone Hotel Investors during the first quarter worth approximately $175,000.
Sunstone Hotel Investors Company Profile
Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust. The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. It operates through hotel ownership segment. It owns primarily urban and resort upper upscale hotels in the United States.
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