Sunstone Hotel Investors (NYSE:SHO) Releases 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 (EPS) 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 Stock Performance

Shares of NYSE SHO traded up $0.17 during mid-day trading on Tuesday, hitting $10.53. The company had a trading volume of 696,936 shares, compared to its average volume of 1,893,447. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03. The business’s 50-day simple moving average is $10.83 and its 200-day simple moving average is $10.52. Sunstone Hotel Investors has a 12 month low of $8.61 and a 12 month high of $11.59. The firm has a market cap of $2.14 billion, a P/E ratio of 11.14, a PEG ratio of 3.98 and a beta of 1.22.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.44. The firm had revenue of $219.20 million during the quarter, compared to analysts’ expectations of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. As a group, analysts predict 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 announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.42%. This is a boost from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. Sunstone Hotel Investors’s payout ratio is 27.96%.

Wall Street Analyst Weigh In

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

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.