Sunstone Hotel: 3Q Earnings Snapshot

IRVINE, Calif. (AP) _ Sunstone Hotel Investors Inc. (SHO) on Thursday reported a key measure of profitability in its third quarter. The results fell short of Wall Street expectations.

The Irvine, California-based real estate investment trust said it had funds from operations of $6.4 million, or 26 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for a funds from operations loss of 19 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $92.5 million, or 43 cents per share.

The hotel real estate investment trust, based in Irvine, California, posted revenue of $28.9 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $52.9 million.

The company’s shares have fallen 41% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.20, a decrease of 43% in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SHO at

Source Article