Sunstone Hotel Investors Inc (SHO) was Downgraded by Morgan Stanley to ” Underweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their investors in a research report released on Sep 26, 2016.
Many Wall Street Analysts have commented on Sunstone Hotel Investors Inc. Company shares were Upgraded by Canaccord Genuity on Jul 15, 2016 to ” Buy”, Firm has raised the Price Target to $ 15 from a previous price target of $14 .
On the company’s financial health, Sunstone Hotel Investors Inc reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $0.37. The company had revenue of $322.20 million for the quarter, compared to analysts expectations of $322.80 million. The company’s revenue was down -5.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.43 EPS.
Sunstone Hotel Investors Inc opened for trading at $12.78 and hit $12.925 on the upside on Thursday, eventually ending the session at $12.91, with a gain of 1.81% or 0.23 points. The heightened volatility saw the trading volume jump to 18,45,209 shares. Company has a market cap of $2,796 M.
In a different news, on Aug 31, 2016, Marc Andrew Hoffman (Chief Operating Officer) sold 10,000 shares at $13.92 per share price. According to the SEC, on Aug 19, 2016, Thomas A Lewis (director) sold 25,000 shares at $13.48 per share price. On Aug 16, 2016, Robert C Springer (Chief Investment Officer) sold 32,998 shares at $13.81 per share price, according to the Form-4 filing with the securities and exchange commission.
Sunstone Hotel Investors Inc. is a self-managed and self-administered real estate investment trust (REIT). The Company’s business is to acquire own asset manage and renovate full-service hotel and select focus-service hotel properties in the United States. The Company holds interests in approximately 30 hotels which include around 14303 rooms located in 13 states and in Washington DC. The hotels are operated under the brands including Marriott Hilton Hyatt Fairmont and Sheraton among others. Its portfolio includes upper upscale hotels in the United States. Its 30 hotels include around 27 upper upscale two luxury and one upscale hotel. The Company’s property portfolio includes Boston Park Plaza Courtyard by Marriott Los Angeles Doubletree Guest Suites Times Square Embassy Suites Chicago Embassy Suites La Jolla Fairmont Newport Beach Marriott Houston Marriott Wailea Marriott Park City Renaissance Harborplace and Renaissance Los Angeles Airport among others.