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

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

Sunstone Hotel Investors Price Performance

Shares of NYSE SHO opened at $10.75 on Friday. Sunstone Hotel Investors has a 1 year low of $9.39 and a 1 year high of $11.59. The firm has a 50-day simple moving average of $10.39 and a two-hundred day simple moving average of $10.26. The company has a market cap of $2.16 billion, a P/E ratio of 14.14, a PEG ratio of 5.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO) last posted its quarterly 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 company had revenue of $226.40 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.23 earnings per share. Research analysts anticipate that Sunstone Hotel Investors will post 0.79 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. Investors of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Sunstone Hotel Investors’s payout ratio is 42.11%.

Analyst Ratings Changes

Separately, Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price for the company in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Sunstone Hotel Investors 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.