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

Sunstone Hotel Investors (NYSE:SHO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.790-0.840 for the period, compared to the consensus EPS estimate of 0.880. The company issued revenue guidance of -.

Sunstone Hotel Investors Trading Up 1.0 %

Shares of NYSE SHO traded up $0.10 during midday trading on Thursday, reaching $10.23. 4,140,417 shares of the stock were exchanged, compared to its average volume of 2,022,120. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.75 and a quick ratio of 3.75. Sunstone Hotel Investors has a 12 month low of $9.03 and a 12 month high of $11.59. The business has a 50-day simple moving average of $10.16 and a two-hundred day simple moving average of $10.31. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 4.40 and a beta of 1.24.

Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The business had revenue of $247.50 million during the quarter, compared to analyst estimates of $248.12 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. As a group, equities research analysts expect that Sunstone Hotel Investors will post 0.89 EPS for the current year.

Sunstone Hotel Investors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 35.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SHO shares. Wolfe Research raised shares of Sunstone Hotel Investors from a peer perform rating to an outperform rating and set a $12.00 price objective on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company upgraded Sunstone Hotel Investors from an underweight rating to an equal weight rating and set a $10.50 price target on the stock in a report on Friday, September 13th. Finally, StockNews.com cut 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 given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $11.42.

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.