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

Sunstone Hotel Investors (NYSE:SHO) updated its FY 2024 earnings guidance on Friday. 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 Stock Performance

Shares of Sunstone Hotel Investors stock opened at $10.75 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.98 and a current ratio of 2.98. The company has a fifty day moving average of $10.39 and a 200 day moving average of $10.26. The company has a market capitalization of $2.16 billion, a P/E ratio of 14.14, a P/E/G ratio of 5.69 and a beta of 1.25. Sunstone Hotel Investors has a fifty-two week low of $9.39 and a fifty-two week high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The business 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 business’s revenue was down 8.6% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS. On average, sell-side analysts anticipate that Sunstone Hotel Investors will post 0.79 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, December 31st. Sunstone Hotel Investors’s payout ratio is currently 44.74%.

Analysts Set New Price Targets

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 target on the stock in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.