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

Sunstone Hotel Investors (NYSE:SHO) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided 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.

Sunstone Hotel Investors Trading Down 0.8 %

NYSE:SHO traded down $0.08 during trading hours on Wednesday, reaching $10.30. 1,818,699 shares of the company were exchanged, compared to its average volume of 1,911,271. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 3.98 and a beta of 1.22. Sunstone Hotel Investors has a 52-week low of $8.61 and a 52-week high of $11.59. The stock has a 50 day simple moving average of $10.82 and a 200 day simple moving average of $10.53.

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

Sunstone Hotel Investors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Friday, June 28th. This is an increase from Sunstone Hotel Investors’s previous quarterly dividend of $0.07. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 27.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SHO shares. StockNews.com raised shares of Sunstone Hotel Investors from a sell rating to a hold rating in a research note on Thursday, March 21st. Truist Financial raised their target price on shares of Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a hold rating in a research note on Thursday, March 14th. Finally, Compass Point raised shares of Sunstone Hotel Investors from a sell rating to a neutral rating and lifted their price target for the stock from $10.00 to $12.00 in a research note on Tuesday. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $10.50.

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.