Sunstone Hotel Investors (NYSE:SHO) Posts Earnings Results, Misses Estimates By $0.02 EPS

Sunstone Hotel Investors (NYSE:SHO) announced its quarterly earnings data 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 company had revenue of $226.40 million for the quarter, compared to the consensus estimate of $224.61 million. Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The company’s revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. Sunstone Hotel Investors updated its FY24 guidance to $0.75-0.80 EPS.

Sunstone Hotel Investors Price Performance

SHO stock remained flat at $10.51 during mid-day trading on Wednesday. 516,291 shares of the company’s stock traded hands, compared to its average volume of 2,035,063. The firm’s 50-day moving average price is $10.33 and its 200-day moving average price is $10.25. Sunstone Hotel Investors has a 1-year low of $9.39 and a 1-year high of $11.59. The company has a market capitalization of $2.14 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 6.33 and a beta of 1.25. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.43.

Wall Street Analysts Forecast Growth

SHO has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Sunstone Hotel Investors from an “underweight” rating to an “equal weight” rating and set a $10.50 price target for the company in a research report on Friday, September 13th. StockNews.com lowered Sunstone Hotel Investors from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average 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.