Sunstone Hotel Investors, Inc. (NYSE:SHO) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.18, 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 16.42% and a return on equity of 8.31%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Sunstone Hotel Investors updated its Q3 guidance to $0.29 to $0.31 EPS.
Sunstone Hotel Investors (SHO) opened at 16.26 on Wednesday. The firm has a 50-day moving average price of $16.29 and a 200-day moving average price of $15.48. Sunstone Hotel Investors has a one year low of $12.14 and a one year high of $16.86. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 19.66 and a beta of 1.17.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of 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 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 worth $44,785,000 after buying an additional 1,727,203 shares during the last quarter. Vanguard Group Inc. increased its stake in Sunstone Hotel Investors by 3.9% in the first quarter. Vanguard Group Inc. now owns 36,097,308 shares of the real estate investment trust’s stock worth $553,372,000 after buying an additional 1,343,557 shares during the last quarter. Adelante Capital Management LLC increased its stake in 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 worth $25,607,000 after buying an additional 1,010,725 shares during the last quarter. Finally, FMR LLC increased its stake in Sunstone Hotel Investors by 13.3% in the first quarter. FMR LLC now owns 5,532,000 shares of the real estate investment trust’s stock worth $84,806,000 after buying an additional 647,700 shares during the last quarter.
A number of research analysts have recently issued reports on the company. BidaskClub lowered Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded Sunstone Hotel Investors from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Friday, June 23rd. Robert W. Baird reiterated a “neutral” rating and set a $17.00 target price (up previously from $16.00) on shares of Sunstone Hotel Investors in a research report on Friday, June 16th. Finally, FBR & Co increased their target price on Sunstone Hotel Investors from $15.00 to $16.00 and gave the company a “mkt perform” rating in a research report on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Sunstone Hotel Investors currently has a consensus rating of “Hold” and a consensus price target of $15.55.
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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