Sunstone Hotel Investors Inc (SHO) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $0.39 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.37. The company posted revenue of $322.20 million in the period, 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.
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 .Sunstone Hotel Investors Inc was Initiated by BB&T Capital Mkts to “Hold” on May 18, 2016.
Sunstone Hotel Investors Inc opened for trading at $13.15 and hit $13.53 on the upside on Friday, eventually ending the session at $13.52, with a gain of 3.05% or 0.4 points. The heightened volatility saw the trading volume jump to 12,84,029 shares. Company has a market cap of $2,928 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.