Sunstone Hotel Invts Q1 2024 FFO $0.19 Beats $0.17 Estimate, Sales $217.166M Beat $214.595M Estimate
Portfolio Pulse from Benzinga Newsdesk
Sunstone Hotel Invts (NYSE:SHO) reported Q1 2024 FFO of $0.19 per share, surpassing the $0.17 estimate, with sales of $217.166M exceeding the $214.595M forecast. This represents a 10.79% decrease in sales compared to the same period last year.
May 06, 2024 | 11:32 am
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Sunstone Hotel Invts reported higher than expected Q1 2024 FFO and sales, beating estimates but with a year-over-year sales decrease.
Beating both FFO and sales estimates typically has a positive short-term impact on a company's stock price. However, the reported 10.79% decrease in sales year-over-year could temper investor enthusiasm, suggesting a mixed but overall positive short-term outlook.
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