Sunstone Hotel Investors (NYSE:SHO) Updates FY24 Earnings Guidance

Sunstone Hotel Investors (NYSE:SHO) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.84-0.94 for the period, compared to the consensus earnings per share estimate of $0.85.

Sunstone Hotel Investors Stock Up 1.4 %

Shares of Sunstone Hotel Investors stock opened at $10.19 on Monday. Sunstone Hotel Investors has a one year low of $8.61 and a one year high of $11.59. 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 stock’s 50-day moving average is $10.84 and its 200 day moving average is $10.51. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 3.98 and a beta of 1.22.

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

Sunstone Hotel Investors Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is presently 27.96%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Truist Financial increased their price objective on Sunstone Hotel Investors from $12.00 to $13.00 and gave the stock a hold rating in a research note on Thursday, March 14th. StockNews.com upgraded shares of Sunstone Hotel Investors from a sell rating to a hold rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, Sunstone Hotel Investors currently has an average rating of Hold and an average price target of $10.00.

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.