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

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

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 price objective for the company in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.42.

Sunstone Hotel Investors Stock Performance

NYSE:SHO opened at $10.75 on Monday. The firm has a market capitalization 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 has a one year low of $9.39 and a one year high of $11.59. The company’s 50-day simple moving average is $10.39 and its 200 day simple moving average is $10.26.

Sunstone Hotel Investors (NYSE:SHO) last issued 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). 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 during the quarter, compared to the consensus estimate of $224.61 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. As a group, analysts forecast that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued 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 payout ratio is presently 44.74%.

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.