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

Sunstone Hotel Investors (NYSE:SHO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.75-0.80 for the period, compared to the consensus estimate of $0.85.

Sunstone Hotel Investors Price Performance

NYSE SHO traded down $0.01 during trading hours on Friday, reaching $10.12. The company’s stock had a trading volume of 126,709 shares, compared to its average volume of 2,036,201. The firm’s 50-day moving average price is $10.34 and its 200-day moving average price is $10.25. The company has a quick ratio of 3.75, a current ratio of 2.98 and a debt-to-equity ratio of 0.44. Sunstone Hotel Investors has a 1 year low of $9.39 and a 1 year high of $11.59. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 6.56 and a beta of 1.25.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings data 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). Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The firm had revenue of $226.40 million during the quarter, compared to the consensus estimate of $224.61 million. During the same period in the previous year, the firm earned $0.23 EPS. The business’s revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts predict that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 3.56%. The ex-dividend date of this dividend is Tuesday, December 31st. Sunstone Hotel Investors’s payout ratio is 42.11%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SHO. Wells Fargo & Company raised 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. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.42.

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.