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

Sunstone Hotel Investors (NYSE:SHO) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.84-0.94 for the period, compared to the consensus estimate of $0.85. Sunstone Hotel Investors also updated its FY 2024 guidance to 0.840-0.940 EPS.

Analyst Ratings Changes

Several brokerages have recently commented on SHO. StockNews.com raised Sunstone Hotel Investors from a sell rating to a hold rating in a research note 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 stock a hold rating in a research report on Thursday, March 14th. Finally, Compass Point upgraded shares of Sunstone Hotel Investors from a sell rating to a neutral rating and boosted their target price for the stock from $10.00 to $12.00 in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $10.50.

Sunstone Hotel Investors Trading Up 2.0 %

Shares of NYSE SHO traded up $0.21 during midday trading on Tuesday, hitting $10.57. The company’s stock had a trading volume of 532,807 shares, compared to its average volume of 1,891,160. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.15 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. The business’s 50 day moving average is $10.83 and its two-hundred day moving average is $10.52. 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 released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share 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 during the quarter, compared to analyst estimates of $192.56 million. During the same quarter last year, the business posted $0.26 EPS. The company’s revenue was down 10.2% on a year-over-year basis. As a group, equities research analysts expect that Sunstone Hotel Investors will post 0.85 EPS for the current year.

Sunstone Hotel Investors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, June 28th. This is a positive change from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. Sunstone Hotel Investors’s dividend payout ratio is 27.96%.

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.