Sunstone Hotel Investors (NYSE:SHO – Get Free Report) issued its earnings results on Wednesday. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16), Zacks reports. The business had revenue of $247.50 million for the quarter, compared to the consensus estimate of $248.12 million. Sunstone Hotel Investors had a net margin of 20.69% and a return on equity of 10.75%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. Sunstone Hotel Investors updated its FY24 guidance to $0.85-$0.90 EPS and its FY 2024 guidance to 0.850-0.900 EPS.
Sunstone Hotel Investors Trading Up 0.1 %
Shares of NYSE SHO traded up $0.01 during mid-day trading on Friday, reaching $9.67. The company had a trading volume of 3,295,493 shares, compared to its average volume of 1,932,013. Sunstone Hotel Investors has a 52 week low of $8.61 and a 52 week high of $11.59. The business’s 50-day moving average is $10.19 and its 200-day moving average is $10.54. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 4.56 and a beta of 1.24. The company has a current ratio of 8.17, a quick ratio of 8.17 and a debt-to-equity ratio of 0.43.
Sunstone Hotel Investors Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Monday, September 30th. Sunstone Hotel Investors’s dividend payout ratio is currently 33.33%.
Analyst Ratings Changes
Read Our Latest Research Report on Sunstone Hotel Investors
Sunstone Hotel Investors Company Profile
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.
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