Zacks: Brokerages Expect Sunstone Hotel Investors Inc (SHO) Will Post Quarterly Sales of $292.35 Million

Brokerages expect Sunstone Hotel Investors Inc (NYSE:SHO) to post sales of $292.35 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Sunstone Hotel Investors’ earnings, with the highest sales estimate coming in at $306.90 million and the lowest estimate coming in at $285.07 million. Sunstone Hotel Investors reported sales of $303.91 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.8%. The firm is expected to report its next earnings report on Monday, October 29th.

On average, analysts expect that Sunstone Hotel Investors will report full year sales of $1.16 billion for the current financial year, with estimates ranging from $1.15 billion to $1.19 billion. For the next financial year, analysts forecast that the company will post sales of $1.17 billion per share, with estimates ranging from $1.15 billion to $1.20 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Sunstone Hotel Investors.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Monday, July 30th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.16). The firm had revenue of $317.40 million for the quarter, compared to the consensus estimate of $317.54 million. Sunstone Hotel Investors had a return on equity of 4.26% and a net margin of 10.08%. Sunstone Hotel Investors’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS.



A number of equities research analysts recently issued reports on the company. Barclays increased their price target on Sunstone Hotel Investors from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, June 1st. ValuEngine downgraded Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Wells Fargo & Co reissued a “hold” rating on shares of Sunstone Hotel Investors in a research report on Friday, June 1st. Jefferies Financial Group assumed coverage on Sunstone Hotel Investors in a research report on Thursday, May 31st. They set a “hold” rating and a $17.00 price target on the stock. Finally, Zacks Investment Research downgraded Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.94.

NYSE:SHO traded down $0.18 during trading hours on Tuesday, reaching $15.86. 1,471,019 shares of the company were exchanged, compared to its average volume of 1,448,229. The company has a market capitalization of $3.66 billion, a P/E ratio of 13.83, a P/E/G ratio of 2.99 and a beta of 1.06. Sunstone Hotel Investors has a 1-year low of $14.09 and a 1-year high of $17.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 5.62 and a quick ratio of 5.61.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Thursday, September 27th. Sunstone Hotel Investors’s dividend payout ratio is presently 16.39%.

Hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its position in Sunstone Hotel Investors by 14.0% during the 1st quarter. Hsbc Holdings PLC now owns 30,218 shares of the real estate investment trust’s stock worth $460,000 after purchasing an additional 3,702 shares during the last quarter. Rhumbline Advisers raised its position in Sunstone Hotel Investors by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 295,009 shares of the real estate investment trust’s stock worth $4,903,000 after purchasing an additional 5,324 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in Sunstone Hotel Investors by 31.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 22,999 shares of the real estate investment trust’s stock worth $350,000 after purchasing an additional 5,500 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Sunstone Hotel Investors by 3.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 225,868 shares of the real estate investment trust’s stock worth $3,754,000 after purchasing an additional 6,926 shares during the last quarter. Finally, Swiss National Bank raised its position in Sunstone Hotel Investors by 2.2% during the 1st quarter. Swiss National Bank now owns 392,149 shares of the real estate investment trust’s stock worth $5,969,000 after purchasing an additional 8,400 shares during the last quarter.

Sunstone Hotel Investors Company Profile

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of July 30, 2018 has interests in 24 hotels comprised of 12,046 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be 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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