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

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

Analyst Ratings Changes

SHO has been the topic of a number of recent analyst reports. Wolfe Research upgraded Sunstone Hotel Investors from a peer perform rating to an outperform rating and set a $12.00 price target on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an underweight rating to an equal weight rating and set a $10.50 target price for the company in a research report on Friday, September 13th. Finally, StockNews.com lowered shares of Sunstone Hotel Investors from a hold rating to a sell rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $11.42.

Sunstone Hotel Investors Price Performance

Shares of NYSE SHO traded up $0.10 during midday trading on Thursday, reaching $10.23. 4,140,417 shares of the company were exchanged, compared to its average volume of 2,022,120. The stock's 50-day moving average price is $10.16 and its 200-day moving average price is $10.31. The stock has a market cap of $2.08 billion, a P/E ratio of 11.27, a PEG ratio of 4.40 and a beta of 1.24. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.43. Sunstone Hotel Investors has a one year low of $9.03 and a one year high of $11.59.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.16). The firm had revenue of $247.50 million for the quarter, compared to analyst estimates of $248.12 million. Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The company's revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. On average, sell-side analysts anticipate that Sunstone Hotel Investors will post 0.89 earnings per share for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

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

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.

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