Sunstone Hotel Investors (NYSE:SHO) Announces Quarterly Earnings Results

Sunstone Hotel Investors (NYSE:SHO) announced its earnings results on Tuesday. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02), Briefing.com reports. The business had revenue of $226.40 million for the quarter, compared to the consensus estimate of $224.61 million. Sunstone Hotel Investors had a return on equity of 9.04% and a net margin of 18.61%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. Sunstone Hotel Investors updated its FY24 guidance to $0.75-0.80 EPS.

Sunstone Hotel Investors Price Performance

Shares of NYSE:SHO opened at $10.13 on Friday. The firm has a market cap of $2.06 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 6.56 and a beta of 1.25. Sunstone Hotel Investors has a 52 week low of $9.39 and a 52 week high of $11.59. The firm’s fifty day moving average is $10.34 and its 200-day moving average is $10.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.75 and a current ratio of 2.98.

Sunstone Hotel Investors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Tuesday, December 31st. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 42.11%.

Analyst Ratings Changes

A number of analysts have recently weighed in on SHO shares. Wells Fargo & Company upgraded 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. StockNews.com lowered shares of Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.42.

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.