Brokerage firm Morgan Stanley Downgrades its rating on Sunstone Hotel Investors Inc(NYSE:SHO). The shares have been rated Underweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Sep 26, 2016.
In a different note, On Aug 22, 2016, Citigroup said it Maintains its rating on Sunstone Hotel Investors Inc. In the research note, the firm Raises the price-target to $13.50 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 19, 2016, Deutsche Bank said it Maintains its rating on Sunstone Hotel Investors Inc. In the research note, the firm Lowers the price-target to $14.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 15, 2016, Canaccord Genuity said it Upgrades its rating on Sunstone Hotel Investors Inc. The shares have been rated ‘Buy’ by the firm.
Sunstone Hotel Investors Inc (SHO) made into the market gainers list on Thursdays trading session with the shares advancing 1.81% or 0.23 points. Due to strong positive momentum, the stock ended at $12.91, which is also near the day’s high of $12.925. The stock began the session at $12.78 and the volume stood at 18,45,209 shares. The 52-week high of the shares is $15.08 and the 52 week low is $9.525. The company has a current market capitalization of $2,796 M and it has 21,65,75,530 shares in outstanding.
Sunstone Hotel Investors Inc(SHO) last announced its earnings results on Aug 8, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $322.16M. Analysts had an estimated revenue of $322.44M. Earnings per share were $0.39. Analysts had estimated an EPS of $0.37.
Several Insider Transactions has been reported to the SEC. On Aug 31, 2016, Marc Andrew Hoffman (Chief Operating Officer) sold 10,000 shares at $13.92 per share price.Also, 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.