Sunstone Hotel Investors (NYSE:SHO) Issues Quarterly Earnings Results

Sunstone Hotel Investors (NYSE:SHO) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.16), Zacks reports. The firm had revenue of $247.50 million for the quarter, compared to analysts’ expectations of $248.12 million. Sunstone Hotel Investors had a net margin of 20.69% and a return on equity of 10.75%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS. Sunstone Hotel Investors updated its FY24 guidance to $0.85-$0.90 EPS and its FY 2024 guidance to 0.850-0.900 EPS.

Sunstone Hotel Investors Stock Up 0.1 %

Shares of Sunstone Hotel Investors stock traded up $0.01 during trading on Friday, hitting $9.67. The company’s stock had a trading volume of 3,295,493 shares, compared to its average volume of 1,932,013. The company has a debt-to-equity ratio of 0.43, a quick ratio of 8.17 and a current ratio of 8.17. The company has a fifty day simple moving average of $10.19 and a two-hundred day simple moving average of $10.54. The company has a market capitalization of $1.97 billion, a PE ratio of 10.74, a P/E/G ratio of 4.56 and a beta of 1.24. Sunstone Hotel Investors has a 52 week low of $8.61 and a 52 week high of $11.59.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.09 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.36 annualized dividend and a dividend yield of 3.72%. Sunstone Hotel Investors’s payout ratio is 33.33%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird upgraded shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $11.00 to $12.00 in a report on Tuesday, May 28th. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Compass Point upgraded shares of Sunstone Hotel Investors from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Tuesday, May 7th. Wolfe Research upgraded shares of Sunstone Hotel Investors from a “peer perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Wednesday, July 10th. Finally, Baird R W upgraded shares of Sunstone Hotel Investors to a “strong-buy” rating in a report on Tuesday, May 28th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.75.

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.