Sunstone Hotel Investors, Inc. Expected to Earn Q4 2022 Earnings of $0.24 Per Share (NYSE:SHO)

Sunstone Hotel Investors, Inc. (NYSE:SHOGet Rating) – Research analysts at Jefferies Financial Group upped their Q4 2022 EPS estimates for Sunstone Hotel Investors in a research report issued on Thursday, August 4th. Jefferies Financial Group analyst D. Katz now forecasts that the real estate investment trust will post earnings per share of $0.24 for the quarter, up from their prior forecast of $0.23. The consensus estimate for Sunstone Hotel Investors’ current full-year earnings is $0.78 per share. Jefferies Financial Group also issued estimates for Sunstone Hotel Investors’ Q1 2024 earnings at $0.19 EPS, Q2 2024 earnings at $0.30 EPS and FY2024 earnings at $1.03 EPS.

SHO has been the topic of a number of other reports. StockNews.com upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Evercore ISI restated an “outperform” rating and set a $13.00 target price on shares of Sunstone Hotel Investors in a report on Monday, July 11th. Finally, Truist Financial boosted their target price on shares of Sunstone Hotel Investors from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, June 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.57.

Sunstone Hotel Investors Price Performance

NYSE SHO opened at $11.02 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.24. Sunstone Hotel Investors has a 12-month low of $9.30 and a 12-month high of $13.91. The company has a market capitalization of $2.37 billion, a PE ratio of 16.21 and a beta of 1.24. The firm’s 50 day moving average is $10.68 and its 200-day moving average is $11.19.

Sunstone Hotel Investors (NYSE:SHOGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Sunstone Hotel Investors had a net margin of 21.04% and a return on equity of 8.46%. The business had revenue of $172.30 million during the quarter, compared to analyst estimates of $157.67 million. During the same quarter last year, the business earned ($0.13) earnings per share. Sunstone Hotel Investors’s revenue for the quarter was up 240.3% on a year-over-year basis.

Hedge Funds Weigh In On Sunstone Hotel Investors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHO. State Street Corp boosted its position in shares of Sunstone Hotel Investors by 6.6% in the first quarter. State Street Corp now owns 9,935,570 shares of the real estate investment trust’s stock valued at $117,041,000 after acquiring an additional 616,646 shares during the period. Principal Financial Group Inc. boosted its position in shares of Sunstone Hotel Investors by 39.5% in the first quarter. Principal Financial Group Inc. now owns 8,228,650 shares of the real estate investment trust’s stock valued at $96,934,000 after acquiring an additional 2,332,082 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Sunstone Hotel Investors by 7.6% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 5,564,731 shares of the real estate investment trust’s stock valued at $65,553,000 after acquiring an additional 393,120 shares during the period. Rush Island Management LP boosted its position in shares of Sunstone Hotel Investors by 48.4% in the first quarter. Rush Island Management LP now owns 5,521,125 shares of the real estate investment trust’s stock valued at $65,039,000 after acquiring an additional 1,799,644 shares during the period. Finally, DigitalBridge Group Inc. bought a new stake in shares of Sunstone Hotel Investors in the first quarter valued at about $11,404,000.

Sunstone Hotel Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.20 dividend on an annualized basis and a yield of 1.81%.

About Sunstone Hotel Investors

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Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release has interests in 19 hotels comprised of 9,997 rooms. Sunstone's business is to acquire, own, asset manage and renovate or reposition 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.

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

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