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

Sunstone Hotel Investors (NYSE:SHO) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.84-0.94 for the period, compared to the consensus earnings per share estimate of $0.85.

Sunstone Hotel Investors Stock Up 1.4 %

Shares of NYSE SHO opened at $10.19 on Monday. 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 company has a market capitalization of $2.08 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. The firm’s 50-day moving average is $10.84 and its two-hundred day moving average is $10.51. Sunstone Hotel Investors has a 12-month low of $8.61 and a 12-month high of $11.59.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.44. The business had revenue of $219.20 million for the quarter, compared to the consensus estimate 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 quarterly 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 earnings per share. Equities analysts anticipate that Sunstone Hotel Investors will post 0.85 EPS for the current fiscal year.

Sunstone Hotel Investors Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.75%. The ex-dividend date was Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is 27.96%.

Analyst Ratings Changes

Several equities analysts recently commented on SHO shares. Truist Financial upped their price target 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. StockNews.com raised shares of Sunstone Hotel Investors from a sell rating to a hold rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $10.00.

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.