Sunstone Hotel Investors (NYSE:SHO) Releases FY24 Earnings Guidance

Sunstone Hotel Investors (NYSE:SHO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.75-0.80 for the period, compared to the consensus estimate of $0.85.

Sunstone Hotel Investors Stock Up 0.3 %

NYSE SHO traded up $0.03 during trading hours on Thursday, hitting $10.47. 73,121 shares of the company were exchanged, compared to its average volume of 2,037,645. The company has a 50 day moving average of $10.33 and a two-hundred day moving average of $10.25. The company has a quick ratio of 3.75, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. Sunstone Hotel Investors has a 52-week low of $9.39 and a 52-week high of $11.59. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 6.11 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $224.61 million. During the same quarter last year, the company earned $0.23 EPS. Sunstone Hotel Investors’s revenue for the quarter was down 8.6% compared to the same quarter last year. Equities research analysts anticipate that Sunstone Hotel Investors will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.09 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.44%. Sunstone Hotel Investors’s payout ratio is currently 42.11%.

Analyst Upgrades and Downgrades

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