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

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SHO. StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target on the stock in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.42.

Sunstone Hotel Investors Stock Performance

Sunstone Hotel Investors stock opened at $10.75 on Friday. The firm has a market capitalization of $2.16 billion, a PE ratio of 14.14, a price-to-earnings-growth 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 stock’s 50 day moving average price is $10.39 and its 200 day moving average price 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 posted 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). The firm had revenue of $226.40 million for the quarter, compared to analyst estimates of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. As a group, sell-side analysts expect that Sunstone Hotel Investors will post 0.79 EPS 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. Stockholders 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 dividend yield of 3.35%. Sunstone Hotel Investors’s dividend payout ratio is presently 42.11%.

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.