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

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

Sunstone Hotel Investors Stock Up 0.7 %

NYSE:SHO opened at $10.89 on Tuesday. Sunstone Hotel Investors has a 1 year low of $9.39 and a 1 year high of $11.59. The stock has a 50-day moving average price of $10.32 and a two-hundred day moving average price of $10.25. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 6.29 and a beta of 1.25. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.43.

Analysts Set New Price Targets

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

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.