Sunstone Hotel Investors (NYSE: SHO) Reports Results
Sunstone Hotel Investors (NYSE: SHO) released its quarterly results Thursday. The real estate investment trust reported ($ 0.13) earnings per share for the quarter, missing analyst consensus estimates of $ 0.08 per ($ 0.21), MarketWatch Results reports. The company posted revenue of $ 167.42 million for the quarter, compared to a consensus estimate of $ 158.88 million. Sunstone Hotel Investors had a negative net margin of 89.59% and a negative return on equity of 11.15%. The company’s revenue for the quarter increased 479.1% from the same quarter last year. In the same quarter of the previous year, the company posted ($ 0.26) earnings per share.
Actions of SHO traded up $ 0.50 on Friday, reaching $ 13.23. The company’s shares had a trading volume of 3,850,939 shares, compared to its average volume of 2,225,690. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.14 and a fast ratio of 2.14. The stock has a market cap of $ 2.90 billion, a P / E ratio of -12.72 and a beta of 1.29. The stock’s 50-day simple moving average is $ 12.22 and its two-hundred-day simple moving average is $ 12.20. Sunstone Hotel Investors has a 12-month low of $ 7.85 and a 12-month high of $ 13.91.
A hedge fund recently increased its stake in shares of Sunstone Hotel Investors. Morgan Stanley increased its stake in Sunstone Hotel Investors, Inc. (NYSE: SHO) by 618.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund held 602,601 real estate investment trust shares after purchasing an additional 518,704 shares during the quarter. Morgan Stanley owned 0.28% of Sunstone Hotel Investors for a value of $ 7,484,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 97.99% of the company’s shares.
A number of analysts weighed on SHO stocks. Wells Fargo & Company raised its price target for Sunstone Hotel Investors stock from $ 11.50 to $ 13.00 and gave the company an “equal weight” rating in a research note on Monday, October 18. Truist Securities upgraded Sunstone Hotel Investors shares from a “sell” rating to a “keep” rating and set a price target of $ 11.00 for the company in a research note on Tuesday August 17th. . Truist downgraded Sunstone Hotel Investors shares from a âsellâ rating to a âkeepâ rating and set a target price of $ 11.00 on the stock in a report released on Tuesday August 17th. Citigroup lowered its target price on Sunstone Hotel Investors stock from $ 14.00 to $ 13.00 and set a “neutral” rating on the stock in a report released on Wednesday, October 6. Ultimately, Zacks investment research raised Sunstone Hotel Investors shares from a âholdâ rating to a âbuyâ rating and set a price target of $ 14.00 on the stock in a report released on Friday, October 22. Six investment analysts rated the stock with a conservation rating and one assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of âHoldâ and an average price target of $ 12.22.
About Sunstone Hotel Investors
Sunstone Hotel Investors, Inc is a real estate investment trust engaged in the acquisition, ownership, asset management and renovation of hotels and resorts. It operates under the following brands: Marriott, Hilton and Hyatt. The company was founded by Robert A. Alter in 1995 and is headquartered in Irvine, California.
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