Sunstone Hotel Invts Q4 2023 FFO $0.19 Beats $0.17 Estimate, Sales $219.22M Beat $216.84M Estimate
Portfolio Pulse from Benzinga Newsdesk
Sunstone Hotel Investments (SHO) reported Q4 2023 FFO of $0.19 per share, surpassing the $0.17 estimate, with sales of $219.22M also beating the $216.84M estimate. However, this represents a 10.30% decrease in sales compared to the same period last year.
February 23, 2024 | 12:31 pm
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POSITIVE IMPACT
Sunstone Hotel Investments reported a positive earnings surprise for Q4 2023, with both FFO per share and sales exceeding analyst estimates. However, there was a notable year-over-year decrease in sales.
The positive earnings surprise, with FFO per share and sales exceeding estimates, is likely to be viewed favorably by investors, potentially leading to a short-term increase in SHO's stock price. However, the year-over-year decrease in sales might temper some of the positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100