Sunstone Hotel Investors (NYSE:SHO) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Sunstone Hotel Investors (NYSE:SHO) issued its earnings results on Tuesday. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02), Briefing.com reports. The business had revenue of $226.40 million during 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 business’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. Sunstone Hotel Investors updated its FY24 guidance to $0.75-0.80 EPS.

Sunstone Hotel Investors Price Performance

Shares of Sunstone Hotel Investors stock traded up $0.06 on Wednesday, hitting $10.57. The company had a trading volume of 620,703 shares, compared to its average volume of 2,228,079. Sunstone Hotel Investors has a 52 week low of $9.39 and a 52 week high of $11.59. The company has a market cap of $2.15 billion, a PE ratio of 13.91, a PEG ratio of 6.11 and a beta of 1.25. The business has a 50-day simple moving average of $10.33 and a 200-day simple moving average of $10.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.98 and a quick ratio of 3.75.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company raised Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 target price on the stock in a research report on Friday, September 13th. StockNews.com downgraded Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.