Sunstone Hotel Investors (NYSE:SHO) – Equities researchers at SunTrust Banks boosted their Q2 2019 EPS estimates for shares of Sunstone Hotel Investors in a note issued to investors on Wednesday, May 9th, according to Zacks Investment Research. SunTrust Banks analyst P. Scholes now forecasts that the real estate investment trust will post earnings of $0.39 per share for the quarter, up from their previous estimate of $0.38. SunTrust Banks also issued estimates for Sunstone Hotel Investors’ FY2019 earnings at $1.19 EPS.
Several other research analysts have also recently commented on SHO. B. Riley set a $16.00 target price on Sunstone Hotel Investors and gave the stock a “hold” rating in a research note on Monday, February 12th. Boenning Scattergood reissued an “outperform” rating on shares of Sunstone Hotel Investors in a research note on Wednesday, February 14th. Robert W. Baird set a $17.00 target price on Sunstone Hotel Investors and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Finally, Zacks Investment Research raised Sunstone Hotel Investors from a “sell” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Saturday, April 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Sunstone Hotel Investors currently has a consensus rating of “Hold” and a consensus target price of $16.79.
Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Monday, May 7th. The real estate investment trust reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.04). Sunstone Hotel Investors had a return on equity of 4.41% and a net margin of 10.28%. The company had revenue of $271.45 million for the quarter, compared to analyst estimates of $263.09 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.21%. Sunstone Hotel Investors’s dividend payout ratio is currently 16.39%.
Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of Sunstone Hotel Investors by 8.2% during the 1st quarter. Legal & General Group Plc now owns 807,323 shares of the real estate investment trust’s stock worth $12,287,000 after acquiring an additional 61,189 shares in the last quarter. Millennium Management LLC boosted its position in shares of Sunstone Hotel Investors by 373.1% during the 1st quarter. Millennium Management LLC now owns 917,641 shares of the real estate investment trust’s stock worth $13,966,000 after acquiring an additional 723,690 shares in the last quarter. V3 Capital Management L.P. acquired a new position in shares of Sunstone Hotel Investors during the 1st quarter worth about $2,306,000. Verition Fund Management LLC acquired a new position in shares of Sunstone Hotel Investors during the 1st quarter worth about $545,000. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Sunstone Hotel Investors by 70.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 166,841 shares of the real estate investment trust’s stock worth $2,540,000 after acquiring an additional 68,788 shares in the last quarter.
Sunstone Hotel Investors Company Profile
Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of May 7, 2018 has interests in 25 hotels comprised of 12,450 rooms. Sunstone's hotels are primarily in the urban and resort upper upscale segment and are predominantly operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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