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

Sunstone Hotel Investors (NYSE:SHO) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share 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.

Analyst Ratings Changes

A number of equities analysts have recently commented on SHO shares. Truist Financial lifted 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. StockNews.com raised shares of Sunstone Hotel Investors from a sell rating to a hold rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, Sunstone Hotel Investors presently has an average rating of Hold and a consensus target price of $10.00.

Sunstone Hotel Investors Trading Up 1.4 %

Shares of SHO stock 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 firm’s fifty day simple moving average is $10.84 and its 200 day simple moving average is $10.51. The firm has a market capitalization of $2.08 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last announced its earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.44. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. The business had revenue of $219.20 million for the quarter, compared to analyst estimates of $192.56 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Sunstone Hotel Investors’s revenue was down 10.2% compared to the same quarter last year. As a group, sell-side analysts predict that Sunstone Hotel Investors will post 0.85 EPS for the current year.

Sunstone Hotel Investors Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.75%. The ex-dividend date was Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 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.