Sunstone Hotel Investors (NYSE:SHO) Announces Earnings Results

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 company had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $224.61 million. Sunstone Hotel Investors had a net margin of 19.51% and a return on equity of 9.75%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the prior 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

NYSE SHO traded down $0.38 during mid-day trading on Wednesday, hitting $10.51. The stock had a trading volume of 8,249,996 shares, compared to its average volume of 1,886,825. The firm’s 50 day moving average is $10.33 and its 200 day moving average is $10.25. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 6.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.75 and a quick ratio of 3.75. Sunstone Hotel Investors has a twelve month low of $9.39 and a twelve month high of $11.59.

Analyst Ratings Changes

A number of equities research analysts have commented on SHO shares. Wells Fargo & Company upgraded 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 note 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 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, Sunstone Hotel Investors has a consensus rating of “Hold” and an average 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.