Sunstone Hotel Investors (SHO) Set to Announce Quarterly Earnings on Monday

Sunstone Hotel Investors (NYSE:SHO) is scheduled to be announcing its earnings results before the market opens on Monday, May 6th. Analysts expect the company to announce earnings of $0.18 per share for the quarter. Sunstone Hotel Investors has set its FY 2024 guidance at 0.780-0.900 EPS and its FY24 guidance at $0.78-0.90 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Sunstone Hotel Investors (NYSE:SHO) last released its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.44. The firm had revenue of $219.20 million during the quarter, compared to the consensus estimate of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. On average, analysts expect Sunstone Hotel Investors to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Sunstone Hotel Investors Price Performance

SHO stock opened at $10.30 on Monday. The company has a fifty day moving average price of $10.93 and a 200-day moving average price of $10.49. The company has a market capitalization of $2.10 billion, a P/E ratio of 11.08, a PEG ratio of 4.03 and a beta of 1.21. Sunstone Hotel Investors has a 52-week low of $8.61 and a 52-week high of $11.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.03 and a current ratio of 7.03.

Sunstone Hotel Investors Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio is presently 27.96%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SHO. StockNews.com raised shares of Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Truist Financial lifted their price objective 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 equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.

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.