Sunstone Hotel Investors (NYSE:SHO) Issues FY 2024 Earnings Guidance

Sunstone Hotel Investors (NYSE:SHO) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.750-0.800 for the period, compared to the consensus earnings per share estimate of 0.850. The company issued revenue guidance of -.

Sunstone Hotel Investors Stock Performance

Shares of SHO stock opened at $10.75 on Friday. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 5.69 and a beta of 1.25. Sunstone Hotel Investors has a one year low of $9.39 and a one year high of $11.59. The company’s 50-day simple moving average is $10.39 and its 200-day simple moving average is $10.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The firm had revenue of $226.40 million for the quarter, compared to the consensus estimate of $224.61 million. During the same period in the prior year, the business earned $0.23 EPS. The company’s quarterly revenue was down 8.6% on a year-over-year basis. Equities analysts anticipate that Sunstone Hotel Investors will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 3.35%. Sunstone Hotel Investors’s payout ratio is 42.11%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Wells Fargo & Company upgraded Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price for the company in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.42.

Sunstone Hotel Investors Company Profile

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.