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

Sunstone Hotel Investors (NYSE:SHO) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.750-0.800 for the period, compared to the consensus earnings per share estimate of 0.850. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective for the company in a report on Friday, September 13th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.42.

Sunstone Hotel Investors Stock Performance

Shares of SHO stock opened at $10.75 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.44. Sunstone Hotel Investors has a 12-month low of $9.39 and a 12-month high of $11.59. The business’s 50 day moving average is $10.39 and its two-hundred day moving average is $10.26. The company has a market capitalization of $2.16 billion, a P/E ratio of 14.14, a P/E/G ratio of 5.69 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $226.40 million during the quarter, compared to analyst estimates of $224.61 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. Sunstone Hotel Investors’s revenue was down 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 EPS. Analysts expect that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Sunstone Hotel Investors’s dividend payout ratio is presently 42.11%.

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.