Sunstone Hotel Investors (NYSE:SHO) Releases FY 2024 Earnings Guidance

Sunstone Hotel Investors (NYSE:SHO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.790-0.840 for the period, compared to the consensus estimate of 0.880. The company issued revenue guidance of -.

Sunstone Hotel Investors Trading Up 1.6 %

Shares of NYSE:SHO opened at $10.39 on Friday. The business’s 50 day simple moving average is $10.17 and its 200 day simple moving average is $10.30. Sunstone Hotel Investors has a 1 year low of $9.03 and a 1 year high of $11.59. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.75 and a quick ratio of 3.75. The company has a market capitalization of $2.11 billion, a P/E ratio of 12.67, a P/E/G ratio of 4.26 and a beta of 1.24.

Sunstone Hotel Investors (NYSE:SHO) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). The company had revenue of $247.50 million for the quarter, compared to analyst estimates of $248.12 million. Sunstone Hotel Investors had a return on equity of 9.75% and a net margin of 19.51%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. On average, research analysts anticipate that Sunstone Hotel Investors will post 0.89 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Monday, September 30th. Sunstone Hotel Investors’s payout ratio is presently 39.02%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SHO shares. Wells Fargo & Company raised shares of Sunstone Hotel Investors from an underweight rating to an equal weight rating and set a $10.50 price objective on the stock in a research note on Friday, September 13th. Wolfe Research upgraded Sunstone Hotel Investors from a peer perform rating to an outperform rating and set a $12.00 price target on the stock in a research note on Wednesday, July 10th. Finally, StockNews.com downgraded Sunstone Hotel Investors from a hold rating to a sell rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sunstone Hotel Investors presently has an average rating of Hold and an average price target of $11.42.

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.