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

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

Wall Street Analyst Weigh In

SHO has been the topic of a number of recent analyst reports. Compass Point upgraded shares of Sunstone Hotel Investors from a sell rating to a neutral rating and increased their price target for the company from $10.00 to $12.00 in a report on Tuesday. StockNews.com raised Sunstone Hotel Investors from a sell rating to a hold rating in a report on Thursday, March 21st. Finally, Truist Financial upped their price target on Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a hold rating in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $10.50.

Sunstone Hotel Investors Trading Up 2.2 %

Shares of SHO traded up $0.23 during midday trading on Tuesday, hitting $10.59. The stock had a trading volume of 646,800 shares, compared to its average volume of 1,892,659. The firm has a market cap of $2.16 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. Sunstone Hotel Investors has a 1 year low of $8.61 and a 1 year high of $11.59. The stock’s 50 day moving average is $10.83 and its 200 day moving average is $10.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03.

Sunstone Hotel Investors (NYSE:SHO) last announced its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate 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 company had revenue of $219.20 million for the quarter, compared to the consensus estimate of $192.56 million. During the same quarter in the prior year, the company posted $0.26 EPS. Sunstone Hotel Investors’s quarterly revenue was down 10.2% on a year-over-year basis. As a group, analysts forecast that Sunstone Hotel Investors will post 0.85 EPS for the current fiscal year.

Sunstone Hotel Investors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.09 per share. This is an increase from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.40%. Sunstone Hotel Investors’s dividend payout ratio is presently 27.96%.

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.