Sunstone Hotel Investors, Inc. (NYSE:SHO) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) from a buy rating to a hold rating in a research report released on Tuesday, August 8th.

According to Zacks, “Sunstone Hotel Investors, Inc. is a Southern California-based lodging real estate company that expects to qualify as a real estate investment trust for federal income tax purposes. The Company owns hotels primarily in the upper-upscale and upscale segments primarily operated under franchises owned nationally-recognized companies, such as Marriott, Hilton, InterContinental and Hyatt. “

Several other research analysts also recently issued reports on SHO. Canaccord Genuity upped their price objective on Sunstone Hotel Investors from $17.00 to $18.00 and gave the company a buy rating in a research note on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) began coverage on Sunstone Hotel Investors in a research note on Monday, April 10th. They issued a sell rating and a $13.00 price objective for the company. BidaskClub downgraded Sunstone Hotel Investors from a buy rating to a hold rating in a research note on Monday, July 24th. Boenning Scattergood reaffirmed a neutral rating on shares of Sunstone Hotel Investors in a research note on Wednesday, April 12th. Finally, FBR & Co upped their price objective on Sunstone Hotel Investors from $15.00 to $16.00 and gave the company a mkt perform rating in a research note on Thursday, May 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $15.64.

Shares of Sunstone Hotel Investors (SHO) opened at 15.41 on Tuesday. The firm has a market cap of $3.47 billion, a PE ratio of 19.99 and a beta of 1.17. The firm has a 50-day moving average of $16.03 and a 200 day moving average of $15.55. Sunstone Hotel Investors has a 52-week low of $12.14 and a 52-week high of $16.86.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Sunstone Hotel Investors had a return on equity of 7.70% and a net margin of 15.41%. The company had revenue of $318.80 million during the quarter, compared to the consensus estimate of $316.96 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts predict that Sunstone Hotel Investors will post $0.69 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This article was originally published by BNB Daily and is the sole property of of BNB Daily. If you are accessing this article on another site, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.baseball-news-blog.com/2017/08/19/zacks-investment-research-lowers-sunstone-hotel-investors-inc-nysesho-to-hold-updated.html.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, September 28th. Sunstone Hotel Investors’s dividend payout ratio is presently 25.64%.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Sunstone Hotel Investors by 5,722.3% in the first quarter. BlackRock Inc. now owns 19,544,184 shares of the real estate investment trust’s stock worth $299,613,000 after buying an additional 19,208,506 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Sunstone Hotel Investors by 144.6% in the first quarter. Frontier Capital Management Co. LLC now owns 2,921,401 shares of the real estate investment trust’s stock valued at $44,785,000 after buying an additional 1,727,203 shares during the period. Vanguard Group Inc. increased its stake in shares of Sunstone Hotel Investors by 4.5% in the second quarter. Vanguard Group Inc. now owns 37,717,053 shares of the real estate investment trust’s stock valued at $607,999,000 after buying an additional 1,619,745 shares during the period. Franklin Resources Inc. increased its stake in shares of Sunstone Hotel Investors by 41.8% in the second quarter. Franklin Resources Inc. now owns 5,061,301 shares of the real estate investment trust’s stock valued at $81,588,000 after buying an additional 1,490,802 shares during the period. Finally, Adelante Capital Management LLC increased its stake in shares of Sunstone Hotel Investors by 153.2% in the first quarter. Adelante Capital Management LLC now owns 1,670,363 shares of the real estate investment trust’s stock valued at $25,607,000 after buying an additional 1,010,725 shares during the period.

About Sunstone Hotel Investors

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.

Get a free copy of the Zacks research report on Sunstone Hotel Investors (SHO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Sunstone Hotel Investors (NYSE:SHO)

Receive News & Ratings for Sunstone Hotel Investors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunstone Hotel Investors Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply