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

Sunstone Hotel Investors (NYSE:SHO) updated its FY24 earnings guidance on Monday. 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.

Sunstone Hotel Investors Stock Performance

Shares of NYSE:SHO remained flat at $10.30 on Thursday. The stock had a trading volume of 87,120 shares, compared to its average volume of 1,890,573. The firm has a market capitalization of $2.10 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. The company has a quick ratio of 7.03, a current ratio of 7.03 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors has a 12 month low of $8.61 and a 12 month high of $11.59. The company’s 50 day moving average price is $10.80 and its 200-day moving average price is $10.53.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.44. The firm had revenue of $219.20 million during the quarter, compared to analyst estimates of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. Sunstone Hotel Investors’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. 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 declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 28th. This is a boost from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 3.50%. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 27.96%.

Analysts Set New Price Targets

Several research analysts have issued reports on SHO shares. Compass Point raised Sunstone Hotel Investors from a sell rating to a neutral rating and upped their price target for the company from $10.00 to $12.00 in a report on Tuesday. Truist Financial raised their target price on 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, StockNews.com downgraded Sunstone Hotel Investors from a hold rating to a sell rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Sunstone Hotel Investors currently has an average rating of Hold and a consensus price target 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.