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. 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.

Analysts Set New Price Targets

A number of research firms recently weighed in on SHO. StockNews.com upgraded shares of Sunstone Hotel Investors from a sell rating to a hold rating in a report on Thursday, March 21st. Truist Financial raised their price target on shares of Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a hold rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $10.00.

Sunstone Hotel Investors Stock Performance

NYSE:SHO opened at $10.19 on Monday. Sunstone Hotel Investors has a 1 year low of $8.61 and a 1 year 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. The business has a fifty day simple moving average of $10.84 and a two-hundred day simple moving average of $10.51. The company has a market capitalization of $2.08 billion, a P/E ratio of 10.96, a P/E/G ratio of 3.98 and a beta of 1.22.

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 analysts’ consensus estimates of $0.16 by $0.44. Sunstone Hotel Investors had a return on equity of 11.32% and a net margin of 20.95%. The business had revenue of $219.20 million for the quarter, compared to analysts’ expectations of $192.56 million. During the same period in the previous year, the business posted $0.26 EPS. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, analysts expect that Sunstone Hotel Investors will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio is currently 27.96%.

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.