$296.90 Million in Sales Expected for Sunstone Hotel Investors, Inc. (SHO) This Quarter
Equities research analysts forecast that Sunstone Hotel Investors, Inc. (NYSE:SHO) will report sales of $296.90 million for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Sunstone Hotel Investors’ earnings, with estimates ranging from $291.00 million to $302.73 million. Sunstone Hotel Investors posted sales of $303.30 million during the same quarter last year, which suggests a negative year over year growth rate of 2.1%. The company is scheduled to report its next quarterly earnings report after the market closes on Monday, October 30th.
On average, analysts expect that Sunstone Hotel Investors will report full-year sales of $296.90 million for the current year, with estimates ranging from $1.17 billion to $1.19 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.21 billion per share, with estimates ranging from $1.17 billion to $1.23 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sunstone Hotel Investors.
Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Sunstone Hotel Investors had a net margin of 15.41% and a return on equity of 7.70%. The firm had revenue of $318.80 million during the quarter, compared to analysts’ expectations of $316.96 million. During the same quarter last year, the business earned $0.39 earnings per share. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year.
A number of equities analysts recently issued reports on the stock. Robert W. Baird reiterated a “neutral” rating and issued a $17.00 target price (up previously from $16.00) on shares of Sunstone Hotel Investors in a research report on Friday, June 16th. Zacks Investment Research downgraded shares of Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. 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 upped their price target on shares of Sunstone Hotel Investors from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.13.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Sunstone Hotel Investors by 5,722.3% during the first quarter. BlackRock Inc. now owns 19,544,184 shares of the real estate investment trust’s stock valued at $299,613,000 after buying an additional 19,208,506 shares in the last quarter. Vanguard Group Inc. lifted its stake in Sunstone Hotel Investors by 4.5% during 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 in the last quarter. Franklin Resources Inc. lifted its stake in Sunstone Hotel Investors by 41.8% during 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 in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Sunstone Hotel Investors by 43.3% during the second quarter. Frontier Capital Management Co. LLC now owns 4,184,909 shares of the real estate investment trust’s stock valued at $67,461,000 after buying an additional 1,263,508 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Sunstone Hotel Investors by 49.3% during the second quarter. Ameriprise Financial Inc. now owns 2,643,022 shares of the real estate investment trust’s stock valued at $42,605,000 after buying an additional 873,060 shares in the last quarter.
Sunstone Hotel Investors (NYSE:SHO) opened at 16.72 on Friday. Sunstone Hotel Investors has a 12 month low of $12.14 and a 12 month high of $16.86. The firm has a market cap of $3.77 billion, a PE ratio of 21.69 and a beta of 1.17. The firm’s 50-day moving average is $15.88 and its 200-day moving average is $15.82.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Thursday, September 28th. Sunstone Hotel Investors’s payout ratio is 25.64%.
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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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