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 Monday morning. The company provided earnings per share guidance of 0.840-0.940 for the period. The company issued revenue guidance of -. Sunstone Hotel Investors also updated its FY24 guidance to $0.84-0.94 EPS.

Sunstone Hotel Investors Price Performance

SHO stock traded down $0.06 during trading on Thursday, reaching $10.24. 126,826 shares of the company were exchanged, compared to its average volume of 1,891,118. The company has a 50-day moving average of $10.80 and a two-hundred day moving average of $10.53. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 3.98 and a beta of 1.22. Sunstone Hotel Investors has a twelve month low of $8.61 and a twelve month high of $11.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03.

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 analysts’ consensus estimates 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 business had revenue of $219.20 million during the quarter, compared to analysts’ expectations of $192.56 million. During the same period in the prior year, the company earned $0.26 EPS. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. As a group, equities analysts predict that Sunstone Hotel Investors will post 0.85 earnings per share for the current fiscal year.

Sunstone Hotel Investors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.09 dividend. This is a boost from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, June 28th. Sunstone Hotel Investors’s dividend payout ratio is 27.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com cut shares of Sunstone Hotel Investors from a hold rating to a sell rating in a research report on Wednesday. Truist Financial increased their price objective on shares of Sunstone Hotel Investors from $12.00 to $13.00 and gave the stock a hold rating in a research report on Thursday, March 14th. Finally, Compass Point upgraded shares of Sunstone Hotel Investors from a sell rating to a neutral rating and increased their price objective for the stock from $10.00 to $12.00 in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $10.50.

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.