Sunstone Hotel Investors, Inc. (SHO) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS
Sunstone Hotel Investors, Inc. (NYSE:SHO) issued its earnings results on Monday. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.18, Bloomberg Earnings reports. Sunstone Hotel Investors had a net margin of 15.41% and a return on equity of 7.70%. The business had revenue of $303.91 million during the quarter, compared to analysts’ expectations of $299.90 million. During the same quarter in the prior year, the business posted $0.33 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Sunstone Hotel Investors updated its Q4 guidance to 0.24-0.26 EPS.
Shares of Sunstone Hotel Investors (NYSE:SHO) traded down 1.46% during trading on Monday, reaching $16.21. 1,003,230 shares of the company’s stock were exchanged. The company’s 50-day moving average is $16.20 and its 200 day moving average is $15.95. Sunstone Hotel Investors has a 52 week low of $12.14 and a 52 week high of $17.15. The stock has a market capitalization of $3.65 billion, a PE ratio of 21.02 and a beta of 1.17.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Saturday, September 30th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.23%. Sunstone Hotel Investors’s payout ratio is currently 25.64%.
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Several research analysts have recently issued reports on SHO shares. Canaccord Genuity upped their target price 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. Zacks Investment Research cut shares of Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub cut shares of Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Robert W. Baird set a $17.00 target price on shares of Sunstone Hotel Investors and gave the company a “hold” rating in a report on Monday, October 23rd. Three investment 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 company currently has an average rating of “Hold” and an average target price of $16.13.
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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