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Sunstone Hotel (SHO) Moves 8.4% Higher: Will This Strength Last?
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Sunstone Hotel Investors (SHO - Free Report) shares rallied 8.4% in the last trading session to close at $10.85. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.7% gain over the past four weeks.
This increased optimism stems from the company joining the S&P SmallCap 600.
This hotel real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.23 per share in its upcoming report, which represents a year-over-year change of +2400%. Revenues are expected to be $225.18 million, up 92.1% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Sunstone Hotel, the consensus FFO per share estimate for the quarter has been revised 3.8% lower over the last 30 days to the current level. And a negative trend in FFO estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SHO going forward to see if this recent jump can turn into more strength down the road.
Sunstone Hotel belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Global Medical REIT (GMRE - Free Report) , closed the last trading session 2.3% higher at $11.39. Over the past month, GMRE has returned 1.7%.
Global Medical REIT's consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $0.26. Compared to the company's year-ago FFO per share, this represents a change of +13%. Global Medical REIT currently boasts a Zacks Rank of #3 (Hold).
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Sunstone Hotel (SHO) Moves 8.4% Higher: Will This Strength Last?
Sunstone Hotel Investors (SHO - Free Report) shares rallied 8.4% in the last trading session to close at $10.85. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 0.7% gain over the past four weeks.
This increased optimism stems from the company joining the S&P SmallCap 600.
This hotel real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.23 per share in its upcoming report, which represents a year-over-year change of +2400%. Revenues are expected to be $225.18 million, up 92.1% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Sunstone Hotel, the consensus FFO per share estimate for the quarter has been revised 3.8% lower over the last 30 days to the current level. And a negative trend in FFO estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on SHO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sunstone Hotel belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Global Medical REIT (GMRE - Free Report) , closed the last trading session 2.3% higher at $11.39. Over the past month, GMRE has returned 1.7%.
Global Medical REIT's consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $0.26. Compared to the company's year-ago FFO per share, this represents a change of +13%. Global Medical REIT currently boasts a Zacks Rank of #3 (Hold).