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

Sunstone Hotel Investors (NYSE:SHO) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $0.84-0.94 for the period, compared to the consensus EPS estimate of $0.85. Sunstone Hotel Investors also updated its FY 2024 guidance to 0.840-0.940 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SHO. StockNews.com raised shares of Sunstone Hotel Investors from a sell rating to a hold rating in a research report on Thursday, March 21st. Compass Point raised Sunstone Hotel Investors from a sell rating to a neutral rating and lifted their price target for the stock from $10.00 to $12.00 in a research report on Tuesday. Finally, Truist Financial boosted their price objective on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a hold rating in a research note on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $10.50.

Sunstone Hotel Investors Trading Up 2.4 %

Sunstone Hotel Investors stock traded up $0.25 during trading on Tuesday, reaching $10.61. The company had a trading volume of 577,103 shares, compared to its average volume of 1,892,187. The stock’s 50 day moving average price is $10.83 and its two-hundred day moving average price is $10.52. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 3.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.03 and a current ratio of 7.03. Sunstone Hotel Investors has a 12-month low of $8.61 and a 12-month high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.44. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. The company had revenue of $219.20 million during the quarter, compared to the consensus estimate of $192.56 million. During the same period in the previous year, the firm earned $0.26 earnings per share. Sunstone Hotel Investors’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, equities analysts expect that Sunstone Hotel Investors will post 0.85 earnings per share for the current fiscal year.

Sunstone Hotel Investors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 3.39%. This is a positive change from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. Sunstone Hotel Investors’s payout ratio is currently 27.96%.

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.