Sunstone Hotel Investors, Inc. (SHO) Expected to Announce Earnings of $0.30 Per Share
Brokerages expect Sunstone Hotel Investors, Inc. (NYSE:SHO) to report $0.30 earnings per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Sunstone Hotel Investors’ earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.29. Sunstone Hotel Investors posted earnings per share of $0.16 in the same quarter last year, which indicates a positive year-over-year growth rate of 87.5%. The company is expected to issue its next earnings report after the market closes on Monday, October 30th.
On average, analysts expect that Sunstone Hotel Investors will report full year earnings of $1.20 per share for the current fiscal year, with EPS estimates ranging from $1.19 to $1.23. For the next fiscal year, analysts forecast that the business will post earnings of $1.23 per share, with EPS estimates ranging from $1.20 to $1.27. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Sunstone Hotel Investors.
Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm 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 firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share.
Several equities research analysts have recently weighed in on SHO shares. BidaskClub cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Robert W. Baird reissued a “neutral” rating and issued a $17.00 price objective (up from $16.00) on shares of Sunstone Hotel Investors in a research report on Friday, June 16th. Zacks Investment Research cut Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Canaccord Genuity increased their price objective on Sunstone Hotel Investors from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $16.13.
Sunstone Hotel Investors (NYSE SHO) traded up 0.61% during mid-day trading on Wednesday, reaching $16.42. 1,244,340 shares of the company traded hands. The company has a market capitalization of $3.70 billion, a P/E ratio of 21.30 and a beta of 1.17. Sunstone Hotel Investors has a 52-week low of $12.14 and a 52-week high of $16.86. The stock has a 50 day moving average price of $15.81 and a 200-day moving average price of $15.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be given a $0.05 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.20 annualized dividend and a dividend yield of 1.22%. Sunstone Hotel Investors’s dividend payout ratio is 25.64%.
Several institutional investors and hedge funds have recently bought and sold shares of SHO. Envestnet Asset Management Inc. lifted its position in 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 worth $121,000 after purchasing an additional 449 shares during the period. Utah Retirement Systems lifted its position in Sunstone Hotel Investors by 17.1% in the first quarter. Utah Retirement Systems now owns 12,986 shares of the real estate investment trust’s stock worth $199,000 after purchasing an additional 1,900 shares during the period. Breton Hill Capital Ltd. lifted its position in Sunstone Hotel Investors by 14.9% in the second quarter. Breton Hill Capital Ltd. now owns 13,100 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 1,700 shares during the period. US Bancorp DE lifted its position in Sunstone Hotel Investors by 20.9% in the first quarter. US Bancorp DE now owns 14,142 shares of the real estate investment trust’s stock worth $217,000 after purchasing an additional 2,448 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Sunstone Hotel Investors in the second quarter worth $243,000.
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.
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