Sunstone Hotel Investors Inc (SHO) was Upgraded by Canaccord Genuity to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 15 from a previous price target of $14 . Earlier the firm had a rating of “Hold ” on the company shares. Canaccord Genuity advised their investors in a research report released on Jul 15, 2016.
Many Wall Street Analysts have commented on Sunstone Hotel Investors Inc. Sunstone Hotel Investors Inc was Initiated by BB&T Capital Mkts to “Hold” on May 18, 2016.
On the company’s financial health, Sunstone Hotel Investors Inc reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.20. The company had revenue of $274.30 million for the quarter, compared to analysts expectations of $276.54 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.
Sunstone Hotel Investors Inc opened for trading at $12.62 and hit $13.07 on the upside on Friday, eventually ending the session at $13, with a gain of 4.25% or 0.53 points. The heightened volatility saw the trading volume jump to 31,91,341 shares. Company has a market cap of $2,816 M.
In a different news, on Jul 1, 2016, Keith Locker (director) sold 10,000 shares at $11.81 per share price. According to the SEC, on Jun 16, 2016, Keith P Russell (director) sold 10,000 shares at $11.54 per share price. On Jun 3, 2016, Andrew Batinovich (director) sold 0 shares at $12.07 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.