Sunstone Hotel Investors (NYSE:SHO – Get Rating) released its quarterly results on Wednesday. The real estate investment trust reported earnings per share of $0.05 for the quarter, missing the consensus estimate of $0.07 per ($0.02), MarketWatch Earnings reports. The company posted revenue of $172.30 million for the quarter, versus a consensus estimate of $157.67 million. Sunstone Hotel Investors posted a net margin of 15.57% and a return on equity of 5.24%. Sunstone Hotel Investors quarterly revenue increased 240.3% compared to the same quarter last year. In the same period of the previous year, the company made ($0.13) earnings per share.
Shares of Sunstone Hotel Investors were up $0.14 at midday Friday, hitting $11.61. 2,919,155 shares of the stock trade in hands, compared to its average volume of 2,947,809. The stock has a market capitalization of $2.55 billion, a P/E ratio of 31.38 and a beta of 1.17. The stock’s fifty-day moving average is $11.59 and its 200-day moving average is $11.64. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt ratio of 0.30. Sunstone Hotel Investors has a 12-month low of $9.93 and a 12-month high of $13.91.
Hedge funds have recently been buying and selling stocks. BlackRock Inc. increased its holdings of Sunstone Hotel Investors shares by 1.2% in the fourth quarter. BlackRock Inc. now owns 21,161,027 shares of the real estate investment trust worth $248,219,000 after purchasing an additional 260,271 shares in the last quarter. Legal & General Group Plc increased its holdings of Sunstone Hotel Investors shares by 20.6% in the fourth quarter. Legal & General Group Plc now owns 2,321,437 shares of the real estate investment trust worth $27,231,000 after buying an additional 396,283 shares last quarter. The Manufacturers Life Insurance Company increased its holdings of Sunstone Hotel Investors shares by 683.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,337,987 shares of the real estate investment trust valued at $15,695,000 after purchasing an additional 1,167,274 shares last quarter. Goldman Sachs Group Inc. increased its holdings of Sunstone Hotel Investors shares by 201.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,252,431 shares of the real estate investment trust worth $14,691,000 after buying an additional 836,479 shares last quarter. Finally, Allianz Asset Management GmbH increased its position in Sunstone Hotel Investors by 95.1% in the fourth quarter. Allianz Asset Management GmbH now owns 1,237,791 shares of the real estate investment trust worth $14,519,000 after purchasing an additional 603,315 shares in the last quarter.
Several equity research analysts have recently commented on SHO stocks. Evercore ISI upgraded Sunstone Hotel Investors from an “in-line” rating to an “outperforming” rating in a Tuesday, March 1 research rating. StockNews.com began covering Sunstone Hotel Investors in a research note on Thursday, March 31. They issued a “sell” rating for the company. Barclays downgraded Sunstone Hotel Investors from an ‘overweight’ rating to an ‘underweight’ rating and lowered its price target for the stock from $15.00 to $11.00 in a Tuesday 1st research note March. Morgan Stanley downgraded Sunstone Hotel Investors shares from an ‘equal weight’ rating to an ‘overweight’ rating and raised its target price for the stock from $13.00 to $14.00 in a report Tuesday, January 18. Finally, Bank of America downgraded Sunstone Hotel Investors shares from a “buy” rating to an “underperform” rating and lowered its target price for the stock from $14.00 to $12.00 in a Monday, January 10 report. Three equity research analysts gave the stock a sell rating, three gave the stock a hold rating and three gave the stock a buy rating. Based on MarketBeat data, Sunstone Hotel Investors currently has an average rating of “Hold” and a consensus target price of $12.71.
About Sunstone Hotel Investors (Get a rating)
Sunstone Hotel Investors, Inc. is a real estate investment trust (“REIT”) which, as of the date of this release, holds interests in 19 hotels comprising 9,997 rooms. Sunstone’s business is to acquire, own, manage assets and renovate or reposition hotels that are considered Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.
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