FBR Capital Maintains a 'Market Perform' on Sunstone Hotel Investors (SHO); Thoughts Following 1Q Conference Call
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Price: $10.94 +0.46%
Rating Summary:
10 Buy, 8 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 8 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital maintains a 'Market Perform' on Sunstone Hotel Investors (NYSE: SHO), lowers PT from $12 to $11.
FBR analyst says, "Positives for Sunstone include its high-quality upper-upscale urban portfolio, which has continued to improve - notably with the recent acquisition of two assets in New Orleans and San Diego, respectively, and acquisition of the remaining 62% interest in the Doubletree Guest Suites Time Square. However the company maintains a relatively low geographic diversity with assets concentrated across four major geographic locations, due to which SHO’s portfolio underperformed the industry in 2010."
"Our 2011 AFFO/share estimate goes down to $0.87 from $0.94 and our 2012 estimate goes down to $1.10 from $1.25 previously. Concurrently, our 2011 adjusted EBITDA estimates go up to $212 million from $199.2 million and our 2012 adjusted EBITDA estimates go to $251.9 million from $242.2 million previously."
For more ratings news on Sunstone Hotel Investors click here and for the rating history of Sunstone Hotel Investors click here.
Shares of Sunstone Hotel Investors closed at $9.84 yesterday.
FBR analyst says, "Positives for Sunstone include its high-quality upper-upscale urban portfolio, which has continued to improve - notably with the recent acquisition of two assets in New Orleans and San Diego, respectively, and acquisition of the remaining 62% interest in the Doubletree Guest Suites Time Square. However the company maintains a relatively low geographic diversity with assets concentrated across four major geographic locations, due to which SHO’s portfolio underperformed the industry in 2010."
"Our 2011 AFFO/share estimate goes down to $0.87 from $0.94 and our 2012 estimate goes down to $1.10 from $1.25 previously. Concurrently, our 2011 adjusted EBITDA estimates go up to $212 million from $199.2 million and our 2012 adjusted EBITDA estimates go to $251.9 million from $242.2 million previously."
For more ratings news on Sunstone Hotel Investors click here and for the rating history of Sunstone Hotel Investors click here.
Shares of Sunstone Hotel Investors closed at $9.84 yesterday.
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