Sunstone Hotel Investors' Q1 Adjusted FFO, Revenue Decline; 2024 Adjusted FFO Guidance Raised-March 2024-www.financetom.com

Sunstone Hotel Investors' Q1 Adjusted FFO, Revenue Decline; 2024 Adjusted FFO Guidance Raised

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Sunstone Hotel Investors' Q1 Adjusted FFO, Revenue Decline; 2024 Adjusted FFO Guidance Raised

May 6, 2024 5:23 AM

08:12 AM EDT, 05/06/2024 (MT Newswires) -- Sunstone Hotel Investors ( SHO ) reported Q1 adjusted funds from operations Monday of $0.18 per diluted share, compared with $0.21 a year earlier.

Analysts surveyed by Capital IQ expected $0.11.

Revenue for the quarter ended March 31 was $217.2 million, compared with $243.4 million a year earlier.

Analysts surveyed by Capital IQ expected $214.6 million.

For full-year 2024, the company said it now expects adjusted FFO of $0.84 to $0.94, compared with its prior outlook of $0.78 to $0.90. Four analysts surveyed by Capital IQ expect $0.62.

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