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

Sunstone Hotel Investors (NYSE:SHO) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share 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.

Analysts Set New Price Targets

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

Sunstone Hotel Investors Stock Down 0.8 %

Shares of Sunstone Hotel Investors stock traded down $0.08 during trading on Wednesday, reaching $10.30. The company’s stock had a trading volume of 1,818,699 shares, compared to its average volume of 1,911,271. The company has a 50-day simple moving average of $10.82 and a two-hundred day simple moving average of $10.53. Sunstone Hotel Investors has a 1-year low of $8.61 and a 1-year high of $11.59. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 3.98 and a beta of 1.22. The company has a quick ratio of 7.03, a current ratio of 7.03 and a debt-to-equity ratio of 0.43.

Sunstone Hotel Investors (NYSE:SHO) last issued its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating 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 net margin of 20.95% and a return on equity of 11.32%. Sunstone Hotel Investors’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 EPS. As a group, equities analysts forecast that Sunstone Hotel Investors will post 0.85 earnings per share for the current year.

Sunstone Hotel Investors Increases Dividend

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