Analysts Anticipate Sunstone Hotel Investors Inc (NYSE:SHO) Will Post Quarterly Sales of $24.55 Million

Equities analysts predict that Sunstone Hotel Investors Inc (NYSE:SHO) will report sales of $24.55 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Sunstone Hotel Investors’ earnings, with the lowest sales estimate coming in at $7.00 million and the highest estimate coming in at $48.19 million. Sunstone Hotel Investors reported sales of $302.90 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 91.9%. The firm is expected to announce its next quarterly earnings results on Thursday, August 6th.

According to Zacks, analysts expect that Sunstone Hotel Investors will report full year sales of $476.72 million for the current fiscal year, with estimates ranging from $367.13 million to $551.49 million. For the next financial year, analysts anticipate that the firm will report sales of $784.58 million, with estimates ranging from $579.70 million to $950.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Sunstone Hotel Investors.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Friday, May 8th. The real estate investment trust reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.14). Sunstone Hotel Investors had a negative net margin of 3.88% and a negative return on equity of 1.69%. The business had revenue of $191.21 million during the quarter, compared to analysts’ expectations of $209.65 million. During the same period in the prior year, the firm earned $0.21 EPS. Sunstone Hotel Investors’s revenue for the quarter was down 25.8% on a year-over-year basis.

A number of research analysts recently weighed in on SHO shares. Morgan Stanley reduced their target price on Sunstone Hotel Investors from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Friday, May 15th. SunTrust Banks reduced their target price on Sunstone Hotel Investors from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Bank of America upgraded Sunstone Hotel Investors from an “underperform” rating to a “neutral” rating in a report on Thursday, March 19th. Barclays upgraded Sunstone Hotel Investors from an “equal weight” rating to an “overweight” rating and set a $11.00 price objective on the stock in a research note on Tuesday, March 17th. Finally, Deutsche Bank restated a “hold” rating and set a $10.00 price objective (down previously from $11.00) on shares of Sunstone Hotel Investors in a research note on Tuesday, May 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $9.43.

Sunstone Hotel Investors stock traded up $0.22 during midday trading on Thursday, reaching $8.16. The stock had a trading volume of 5,403,300 shares, compared to its average volume of 4,046,422. Sunstone Hotel Investors has a twelve month low of $5.75 and a twelve month high of $14.47. The stock has a market capitalization of $1.71 billion, a PE ratio of -30.22 and a beta of 1.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.04 and a current ratio of 5.04. The stock’s 50-day simple moving average is $8.76 and its 200 day simple moving average is $10.65.

In other Sunstone Hotel Investors news, Director W Blake Baird purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $7.18 per share, for a total transaction of $35,900.00. Following the completion of the purchase, the director now owns 44,857 shares in the company, valued at approximately $322,073.26. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its stake in shares of Sunstone Hotel Investors by 61.1% in the first quarter. Invesco Ltd. now owns 10,423,654 shares of the real estate investment trust’s stock worth $90,791,000 after acquiring an additional 3,953,137 shares in the last quarter. State Street Corp increased its holdings in Sunstone Hotel Investors by 0.7% in the first quarter. State Street Corp now owns 9,421,700 shares of the real estate investment trust’s stock valued at $82,512,000 after buying an additional 69,069 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Sunstone Hotel Investors by 37.8% in the first quarter. Victory Capital Management Inc. now owns 7,199,836 shares of the real estate investment trust’s stock valued at $62,711,000 after buying an additional 1,973,125 shares during the last quarter. Morgan Stanley increased its holdings in Sunstone Hotel Investors by 22.4% in the first quarter. Morgan Stanley now owns 6,072,303 shares of the real estate investment trust’s stock valued at $52,891,000 after buying an additional 1,110,960 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Sunstone Hotel Investors by 30.3% in the fourth quarter. Nuveen Asset Management LLC now owns 6,006,552 shares of the real estate investment trust’s stock valued at $83,611,000 after buying an additional 1,395,256 shares during the last quarter.

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of February 12, 2019 has interests in 21 hotels comprised of 10,780 rooms. Sunstone's primary business is to acquire, own, asset manage and renovate hotels considered to be Long-Term Relevant Real EstateĀ®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.

Recommended Story: Understanding Options Trading

Get a free copy of the Zacks research report on Sunstone Hotel Investors (SHO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Sunstone Hotel Investors (NYSE:SHO)

Receive News & Ratings for Sunstone Hotel Investors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunstone Hotel Investors and related companies with MarketBeat.com's FREE daily email newsletter.