Sunstone Hotel Investors (NYSE:SHO) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Sunstone Hotel Investors (NYSE:SHO) announced its earnings results on Tuesday. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02), Briefing.com reports. The business had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. Sunstone Hotel Investors updated its FY24 guidance to $0.75-0.80 EPS.

Sunstone Hotel Investors Stock Performance

NYSE SHO opened at $10.44 on Thursday. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 6.11 and a beta of 1.25. Sunstone Hotel Investors has a twelve month low of $9.39 and a twelve month high of $11.59. The company has a current ratio of 2.98, a quick ratio of 3.75 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average of $10.33 and a 200 day moving average of $10.25.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 yield of 3.45%. Sunstone Hotel Investors’s payout ratio is 42.11%.

Analysts Set New Price Targets

Several research firms have weighed in on SHO. Wells Fargo & Company upgraded 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 note on Friday, September 13th. StockNews.com cut Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.42.

About Sunstone Hotel Investors

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.