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

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) 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.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SHO. StockNews.com upgraded shares of Sunstone Hotel Investors from a sell rating to a hold rating in a report on Thursday, March 21st. Truist Financial upped their price target 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. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $10.00.

Sunstone Hotel Investors Stock Up 1.7 %

SHO traded up $0.17 during trading hours on Monday, hitting $10.36. 2,204,292 shares of the company's stock were exchanged, compared to its average volume of 1,907,770. The company has a current ratio of 7.03, a quick ratio of 7.03 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors has a 12-month low of $8.61 and a 12-month high of $11.59. The firm has a market cap of $2.11 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 3.98 and a beta of 1.22. The firm has a 50 day moving average of $10.83 and a 200 day moving average of $10.52.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last posted its quarterly earnings data 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. 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 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. Analysts predict that Sunstone Hotel Investors will post 0.85 EPS for the current fiscal year.

Sunstone Hotel Investors Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Wednesday, March 27th. Sunstone Hotel Investors's dividend payout ratio (DPR) is presently 27.96%.

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.