Sunstone Hotel Investors, Inc. (SHO) Monday reported net income of $9.35 million or $0.05 per share for the first quarter, significantly lower than $17.32 million or $0.08 per share in the same quarter a year ago, primarily impacted by decline in revenue.
Funds From Operations or FFO decreased to $37.65 million or $0.19 per share from $49.51 million or $0.24 per share last year.
Excluding one-time items, adjusted FFO was $37.51 million or $0.18 per share, down from $43.82 million or $0.21 per share a year ago.
On average, 4 analysts polled by Thomson-Reuters expected the company to report earnings of $0.01 per share. Analysts' estimates typically exclude special items.
Revenue for the quarter decreased to $217.17 million from $243.44 million in the previous year. The consensus estimate was for $214.59 million.
Additionally, the Board of Sunstone Hotel Investors has declared a dividend of $0.09 per share, an increase of $0.02 per share, to be paid on July 15, to stockholders of record on June 28.
Looking ahead, the company has revised its adjusted FFO per share outlook to $0.84 - $0.94 from $0.83 - $0.95.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.