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

Sunstone Hotel Investors (NYSE:SHO) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.75-0.80 for the period, compared to the consensus estimate of $0.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SHO shares. Wells Fargo & Company upgraded Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price objective on the stock in a report on Friday, September 13th. StockNews.com downgraded shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.42.

Sunstone Hotel Investors Stock Down 3.5 %

NYSE SHO opened at $10.51 on Wednesday. The stock has a market cap of $2.14 billion, a PE ratio of 12.82, a P/E/G ratio of 6.33 and a beta of 1.25. The business has a 50 day moving average price of $10.33 and a two-hundred day moving average price of $10.25. Sunstone Hotel Investors has a fifty-two week low of $9.39 and a fifty-two week high of $11.59. 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 (NYSE:SHO) last announced its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The business had revenue of $226.40 million for the quarter, compared to analyst estimates of $224.61 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The firm’s revenue was down 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Sunstone Hotel Investors will post 0.85 EPS for the current fiscal year.

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.