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

Sunstone Hotel Investors (NYSE:SHO) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02), Briefing.com reports. Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The company had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $224.61 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. Sunstone Hotel Investors updated its FY24 guidance to $0.75-0.80 EPS.

Sunstone Hotel Investors Price Performance

Shares of SHO traded down $0.38 during mid-day trading on Wednesday, hitting $10.51. 8,249,996 shares of the stock were exchanged, compared to its average volume of 1,886,825. The company has a debt-to-equity ratio of 0.43, a quick ratio of 3.75 and a current ratio of 3.75. The company has a market cap of $2.14 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 6.33 and a beta of 1.25. Sunstone Hotel Investors has a 52-week low of $9.39 and a 52-week high of $11.59. The firm has a 50-day moving average of $10.33 and a two-hundred day moving average of $10.25.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SHO shares. 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 note on Thursday, August 1st. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.