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 Friday. The company provided earnings per share guidance of 0.750-0.800 for the period, compared to the consensus earnings per share estimate of 0.850. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SHO shares. StockNews.com cut Sunstone Hotel Investors from a "hold" rating to a "sell" rating in a research report on Thursday, August 1st. Wells Fargo & Company upgraded Sunstone Hotel Investors from an "underweight" rating to an "equal weight" rating and set a $10.50 price target for the company in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $11.42.

Sunstone Hotel Investors Stock Performance

NYSE SHO remained flat at $10.75 during trading on Friday. The company's stock had a trading volume of 1,262,616 shares, compared to its average volume of 2,070,910. Sunstone Hotel Investors has a one year low of $9.39 and a one year high of $11.59. The business's 50 day simple moving average is $10.39 and its two-hundred day simple moving average is $10.26. The company has a market cap of $2.16 billion, a P/E ratio of 14.14, a P/E/G ratio of 5.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 2.98.

Sunstone Hotel Investors (NYSE:SHO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The company had revenue of $226.40 million during the quarter, compared to the consensus estimate of $224.61 million. Sunstone Hotel Investors had a net margin of 18.61% and a return on equity of 9.04%. The firm's revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 earnings per share. Equities research analysts predict that Sunstone Hotel Investors will post 0.79 EPS for the current fiscal year.

Sunstone Hotel Investors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Sunstone Hotel Investors's dividend payout ratio is currently 42.11%.

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.