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Sunstone Hotel Investors, Inc. (SHO) stock

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NYSE: SHO NYSE Hotel & Resort REITs Next results ~November 6, 2026

B Fundamentals grade

Sunstone Hotel Investors, Inc. is a US-listed company in the hotel & resort REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($3.92) is 0.30x the median of our other models ($12.88); a gap this wide usually means the cash flow is temporarily depressed (heavy investment, a one-off payment).

Price vs value

Under review: our cash-flow value ($3.92) is 0.30x the median of our other models ($12.88); a gap this wide usually means the cash flow is temporarily depressed (heavy investment, a one-off payment). We'll show the comparison once resolved.

Sunstone Hotel Investors, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds132 adding, 118 cuttingOf 49 active managers that changed their stake, 33 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Sunstone Hotel Investors files

Where Sunstone Hotel Investors stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.00bn, up 7.3% on a year earlier, about the same pace as a quarter earlier. That growth ranks 2 of 15 among the hotel & resort reits companies we cover. Free-cash-flow margin rose to 9.8% from 2.5% a year earlier. Operating margin narrowed to -147.0% from 12.3%. The diluted share count is down 6.0% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 1 of our 4 financial-health checks.

Our model value for Sunstone Hotel Investors is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 6, 2026 (estimated)

Sunstone Hotel Investors, Inc.'s trailing-twelve-month revenue grew 7.3% year on year, with a free-cash-flow margin of 9.8%. Where it stands out: revenue growth of 7.3% ranks 2 of 15 hotel & resort reits companies we cover.

Our discounted-cash-flow model values the business at ~$3.9 per share in the base case (~$1.7–$6.8 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 324.0% while net income grew 912.1%: a 588pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 6.0% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 6 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -147.0%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 159.3 points on a year ago.
  • High earnings multiple. The shares trade at 58 times the last 12 months' earnings, so expectations are demanding.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 41.7% over 90 days.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.14 against an average estimate of $0.82: missed by 82.9%
Revenue
$277m, up 6.7% on a year earlier
Share reaction
-5.1% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 6, 2026; average EPS estimate -$0.01

Sunstone Hotel Investors' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.1%
  • 1 week+0.6%
  • 1 month+12.8%
  • This year+47.6%
  • 1 year+47.3%
  • 5 years+15.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1B
Net margin
4.2%
EPS (TTM, diluted)
$0.22

Growth

Revenue growth
+7.3%
Change in growth rate
+0.4 pts
Share count change
−6.0%

Cash

Free cash flow (TTM)
$98.1M
FCF margin
9.8%
Stock pay % of revenue
0.9%

Earnings

Last results
August 6, 2026
Next results (est.)
November 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Sunstone Hotel Investors, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($3.92) is 0.30x the median of our other models ($12.88); a gap this wide usually means the cash flow is temporarily depressed (heavy investment, a one-off payment).

Our value per share comes from a discounted-cash-flow model of Sunstone Hotel Investors, Inc.'s free cash flow after stock-based pay ( $93.9M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Sunstone Hotel Investors, Inc. as an equity reit, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.77 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$3.9 ~$1.7–$6.8 Primary model, counts double
Funds-from-operations model Funds from operations growing 2.5% a year, discounted at 8%. ~$18 ~$15–$22 Included
Price-to-FFO vs peers Funds from operations per share times peers' typical (harmonic-mean) price-to-FFO. ~$0.3 ~$8.1–$17 Left out: out of range vs price (0.03x)
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. ~$7.9 ~$6.7–$9.5 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Sunstone Hotel Investors, Inc. with equity REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$11.41$12.93$10.70$12.08$9.89$10.23$8.52$9.75$11.10$8.71$12.86
Market value$2.5bn$2.9bn$2.4bn$2.7bn$2.1bn$2.2bn$1.8bn$2.0bn$2.2bn$1.7bn$2.4bn
+ Net debt (− = net cash)$752m$510m$181m$242m$383m$512m$715m$393m$738m$821m$886m
Enterprise value$3.2bn$3.4bn$2.6bn$3.0bn$2.5bn$2.7bn$2.5bn$2.4bn$3.0bn$2.5bn$3.3bn
Multiples
Price / sales 2.1x2.4x2.1x2.4x8.0x4.3x2.0x2.0x2.5x1.8x2.4x
Price / earnings 20.9x21.8x10.2x22.3x—163.1x24.9x10.5x81.0xn/m57.8x
Price / free cash flow 23.2x15.0x16.5x14.0x——22.4x22.8x173.0x21.5x24.7x
EV / EBITDA 9.1x9.8x5.8x————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

44 /100

Weak moat

How hard Sunstone Hotel Investors's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Net income has been a median 2.9% of total assets over 10 years.

  • Durability 2 / 20

    Net margin has been a median 8.7%; its worst year was -95.5%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 8 of 9 years, at a median 5.9% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 12.2% over five years; stock-based pay has been a median 1.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 6, 2026, before the open. Analysts expect revenue of $225m and EPS of −$0.01 (range −$0.05 to $0.02) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.22 +170% $987m +3%
Next $0.17 −20% $966m −2%

Next year's EPS estimate has moved −41.7% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −87.2% on 90 days ago. In the last 30 days, 1 analyst raised Sunstone Hotel Investors, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Sunstone Hotel Investors, Inc., last 90 days
$0.00 $0.50 $1.00 $1.50 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.72 Current fiscal year, 60 days ago: $0.28 Current fiscal year, 30 days ago: $0.28 Current fiscal year, 7 days ago: $0.22 Current fiscal year, Now: $0.22 $0.22 Next fiscal year, 90 days ago: $0.30 Next fiscal year, 60 days ago: $0.14 Next fiscal year, 30 days ago: $0.14 Next fiscal year, 7 days ago: $0.17 Next fiscal year, Now: $0.17 $0.17

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.72$0.30
60 days ago $0.28$0.14
30 days ago $0.28$0.14
7 days ago $0.22$0.17
Now $0.22$0.17

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.82 $0.14 −82.9%
Mar 2026 $0.02 $0.08 +300.0%
Dec 2025 −$0.04 $0.02 +139.0%
Sept 2025 −$0.01 −$0.02 −19.3%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Sunstone Hotel Investors, Inc.'s revenue by +0.1% next year and +2.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-2.7%, weight 56%) and the company's own record (+3.6%, weight 44%) . How the weights are set.

Analyst recommendations

12 analysts, Oct 2026
Buy325%
Hold867%
Sell18%

Monthly trend

  1. Oct 202638112
  2. Sep 202647112
  3. Aug 202647112
  4. Jul 202647112

Counts of recommendations published by analysts covering Sunstone Hotel Investors, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0.02
at average volume
Short interest, 1 month
−100%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.6%
of shares
Employees
37
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +50.6%

$8.54 on October 31, 2025 to $12.86

ThenNowEffect
Revenue (last 12 months) $935m $1.0bn +7.3%
Net margin 0.4% 4.2% +843.4%
P/E multiple n/m 57.8x −86.0%
Share count 200m 188m +6.4%

Biggest factor: net margin.

Last 3 years +46.4%

$8.79 on November 3, 2023 to $12.86

ThenNowEffect
Revenue (last 12 months) $1.0bn $1.0bn −0.5%
Net margin 8.7% 4.2% −51.8%
P/E multiple 21.0x 57.8x +175.7%
Share count 209m 188m +10.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SHO+4%−17%+14%+14%−22%+48%
Industry peers (median)+17%−18%+12%−1%−17%+53%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SHO50%33%58%58%33%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SHO−23%−25%−22%−16%−36%−10%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 56% from June 1, 2018 to March 18, 2020. Getting back needed a 127% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$8.51 – $12.94
From 52-week high
−0.6%
vs 50-day average
+12.1%
vs 200-day average
+23.2%
Volatility (1 year)
23%
Beta vs S&P 500
0.60

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±3.2%
After a week
8 up, 4 down
typical move ±4.1%
After a month
7 up, 5 down
typical move ±6.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −5.1% +0.5% −6.8% −5.3%
May 5, 2026 +5.6% +2.2% +5.5% +18.4%
February 27, 2026 −1.8% −0.4% −2.9% −6.9%
November 7, 2025 +6.3% +1.7% +2.3% −2.5%
August 6, 2025 +0.2% +0.7% +5.4% +9.0%
May 6, 2025 −4.8% −0.4% +5.6% +0.8%
February 21, 2025 −6.5% −2.2% −7.3% −12.7%
November 12, 2024 −4.1% −0.3% −7.6% +12.5%
October 10, 2024 +2.6% +0.4% +2.7% +6.7%
August 7, 2024 0.0% +1.6% +1.0% +2.4%
May 6, 2024 +1.9% +1.1% +0.4% +0.3%
February 23, 2024 −0.1% −0.3% +1.7% −2.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Sunstone Hotel Investors, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Sunstone Hotel Investors, Inc.
$900M $950M $1B $1.1B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1B Revenue (TTM), FY23 Q4: $986.5M Revenue (TTM), FY24 Q1: $960.2M Revenue (TTM), FY24 Q2: $931.6M Revenue (TTM), FY24 Q3: $910.3M Revenue (TTM), FY24 Q4: $905.8M Revenue (TTM), FY25 Q1: $922.7M Revenue (TTM), FY25 Q2: $935M Revenue (TTM), FY25 Q3: $937.9M Revenue (TTM), FY25 Q4: $960.1M Revenue (TTM), FY26 Q1: $985.8M Revenue (TTM), FY26 Q2: $1B $1B

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1B
FY23 Q4 $986.5M
FY24 Q1 $960.2M
FY24 Q2 $931.6M
FY24 Q3 $910.3M
FY24 Q4 $905.8M
FY25 Q1 $922.7M
FY25 Q2 $935M
FY25 Q3 $937.9M
FY25 Q4 $960.1M
FY26 Q1 $985.8M
FY26 Q2 $1B
Revenue growth, TTM YoY Sunstone Hotel Investors, Inc.
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 20.1% Revenue growth, TTM YoY, FY23 Q4: 8.2% Revenue growth, TTM YoY, FY24 Q1: -2.3% Revenue growth, TTM YoY, FY24 Q2: -7.6% Revenue growth, TTM YoY, FY24 Q3: -10.0% Revenue growth, TTM YoY, FY24 Q4: -8.2% Revenue growth, TTM YoY, FY25 Q1: -3.9% Revenue growth, TTM YoY, FY25 Q2: 0.4% Revenue growth, TTM YoY, FY25 Q3: 3.0% Revenue growth, TTM YoY, FY25 Q4: 6.0% Revenue growth, TTM YoY, FY26 Q1: 6.8% Revenue growth, TTM YoY, FY26 Q2: 7.3% 7.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 20.1%
FY23 Q4 8.2%
FY24 Q1 -2.3%
FY24 Q2 -7.6%
FY24 Q3 -10.0%
FY24 Q4 -8.2%
FY25 Q1 -3.9%
FY25 Q2 0.4%
FY25 Q3 3.0%
FY25 Q4 6.0%
FY26 Q1 6.8%
FY26 Q2 7.3%
Operating margin (TTM) Sunstone Hotel Investors, Inc.
-150% -100% -50% 0% 50% FY18 Q1 FY18 Q4 FY19 Q3 FY20 Q4 Operating margin (TTM), FY18 Q1: 11.6% Operating margin (TTM), FY18 Q2: 11.5% Operating margin (TTM), FY18 Q3: 14.7% Operating margin (TTM), FY18 Q4: 15.7% Operating margin (TTM), FY19 Q1: 15.7% Operating margin (TTM), FY19 Q2: 15.7% Operating margin (TTM), FY19 Q3: 15.3% Operating margin (TTM), FY19 Q4: 12.3% Operating margin (TTM), FY20 Q1: -2.6% Operating margin (TTM), FY20 Q2: -25.4% Operating margin (TTM), FY20 Q3: -62.1% Operating margin (TTM), FY20 Q4: -147.0% -147.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY18 Q1 11.6%
FY18 Q2 11.5%
FY18 Q3 14.7%
FY18 Q4 15.7%
FY19 Q1 15.7%
FY19 Q2 15.7%
FY19 Q3 15.3%
FY19 Q4 12.3%
FY20 Q1 -2.6%
FY20 Q2 -25.4%
FY20 Q3 -62.1%
FY20 Q4 -147.0%
FCF margin (TTM) Sunstone Hotel Investors, Inc.
0% 5% 10% 15% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 12.2% FCF margin (TTM), FY23 Q4: 8.9% FCF margin (TTM), FY24 Q1: 7.7% FCF margin (TTM), FY24 Q2: 5.9% FCF margin (TTM), FY24 Q3: 2.5% FCF margin (TTM), FY24 Q4: 1.4% FCF margin (TTM), FY25 Q1: 0.7% FCF margin (TTM), FY25 Q2: 2.5% FCF margin (TTM), FY25 Q3: 5.8% FCF margin (TTM), FY25 Q4: 8.2% FCF margin (TTM), FY26 Q1: 9.1% FCF margin (TTM), FY26 Q2: 9.8% 9.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 12.2%
FY23 Q4 8.9%
FY24 Q1 7.7%
FY24 Q2 5.9%
FY24 Q3 2.5%
FY24 Q4 1.4%
FY25 Q1 0.7%
FY25 Q2 2.5%
FY25 Q3 5.8%
FY25 Q4 8.2%
FY26 Q1 9.1%
FY26 Q2 9.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,189 1,194 1,159 1,115 268 509 912 986 906 960 1,003
EBITDA 352 345 445 — — — — — — — —
Operating income 189 186 299 — — — — — — — —
Net income 117 132 236 122 −418 14 73 192 28 8 42
Diluted EPS $0.55 $0.59 $1.05 $0.54 −$1.93 $0.06 $0.34 $0.93 $0.14 $0.04 $0.22
Growth (year on year)
Revenue — +0.4% −2.9% −3.8% −76.0% +90.0% +79.1% +8.2% −8.2% +6.0% +7.3%
EBITDA — −1.9% +29.0% — — — — — — — —
Operating income — −1.2% +60.3% — — — — — — — —
Net income — +12.1% +79.5% −48.4% −442.3% — +435.0% +164.1% −85.5% −70.4% —
Diluted EPS — +7.3% +78.0% −48.6% −457.4% — +466.7% +173.5% −84.9% −71.4% —
Margins
EBITDA margin 29.6% 28.9% 38.4% — — — — — — — —
Operating margin 15.9% 15.6% 25.8% — — — — — — — —
Net margin 9.9% 11.0% 20.4% 10.9% −155.9% 2.7% 8.0% 19.4% 3.1% 0.9% 4.2%
Free-cash-flow margin 8.9% 16.1% 12.6% 17.5% −62.8% −6.9% 8.9% 8.9% 1.4% 8.2% 9.8%
Cash flow
Cash from operations 288 307 305 291 −117 28 209 198 170 182 198
Capital spending 182 115 159 96 51 64 129 110 157 103 100
Free cash flow 106 192 146 195 −168 −35 81 88 13 79 98
Stock-based pay 7 8 9 9 10 13 11 11 10 9 9
Free cash flow after stock pay 98 184 137 186 −178 −48 70 77 3 70 89
Balance sheet
Cash 370 488 809 817 368 120 101 426 107 109 94
Total debt 1,122 998 991 1,059 751 633 816 819 845 930 980
Net debt (negative = net cash) 752 510 181 242 383 512 715 393 738 821 886
Diluted shares 215m 222m 226m 226m 216m 216m 213m 206m 203m 194m 188m
Returned to shareholders
Dividends 227 163 178 170 156 14 25 60 91 86 85
Buybacks — — — 50 104 — 108 56 27 103 45
Total returned 227 163 178 220 260 14 133 116 118 189 129

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 4 checks passed · June 30, 2026
  • Short-term assets cover short-term liabilities The company doesn't report a short-term split. Not assessable.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $94m of cash against $968m of debt.
  • Debt below 40% of shareholders' equity Debt is 51% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 27% to 51% over five years.
  • A year's operating cash flow covers at least 20% of debt $198m of operating cash flow against $968m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Sunstone Hotel Investors, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$44.7M
Dividends (TTM)
$84.6M
Returned to shareholders
132%
of free cash flow
Buybacks, last 3 fiscal years
$186M
Diluted share count
−6.0%
year over year
Total shareholder yield
5.4%
dividends 3.5% + buybacks 1.9% of market value
Dividend payout ratio
202%
of net income paid out

Competitors: side by side with peers

Closest by revenue in hotel & resort reits
Last 12 months unless stated SHO AHT XHR DRH INN RLJ Median
Revenue, last 12 months $1.0bn $1.1bn $1.1bn $1.1bn $736m $1.4bn $1.4bn
Revenue growth, last 12 months 7.3% −5.8% 1.6% 1.0% 1.2% 1.1% 1.2%
Revenue growth, 3-year average −0.2% −7.6% 1.5% 2.4% 0.4% 2.3% 1.5%
Revenue growth, latest quarter 6.7% −9.5% 2.8% 4.1% 3.2% 5.5% 3.4%
Gross margin — 24.3% 30.8% — 36.8% — 40.0%
Operating margin −147.0% 20.2% 6.7% −102.5% 9.0% 14.5% 12.8%
Operating margin, 3-year average −39.7% 18.0% 8.3% −20.1% 10.4% 15.9% 13.0%
Net margin 4.2% −6.1% −0.7% 13.5% −3.3% 2.0% 2.0%
Cash from operations / revenue 19.8% 1.4% 16.6% 21.5% 21.4% 19.3% 19.8%
Free-cash-flow margin 9.8% −5.1% 10.6% 14.4% 12.7% 12.6% 10.6%
Free-cash-flow margin, 3-year average 6.0% −9.0% 5.8% 13.4% 10.8% 11.5% 7.3%
Stock pay / revenue 0.9% −0.1% 1.2% 0.7% 1.0% 1.2% 0.7%
Change in share count −6.0% 147.0% −7.2% −1.3% −13.5% −1.3% −1.3%

Median of all 15 companies we cover in hotel & resort reits. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

15 hotel & resort reits companies
Measure Company Peer median Rank
Revenue growth Growth 7.3% 1.2% 2 of 15
Change in growth rate Growth +0.4pp +0.7pp 9 of 15
Net margin Profitability 4.2% 2.0% 6 of 15
Stock pay as % of revenue Cash generation 0.9% 0.7% 9 of 13
Long-term debt as % of assets Balance sheet 31.9% 45.0% 3 of 14
Change in share count Balance sheet -6.0% -1.3% 4 of 12

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Occupancy $583M 60.7% ▲ 4.2%
Food and Beverage $279M 29.0% ▲ 8.8%
Hotel Other $98.8M 10.3% ▲ 9.1%

From Sunstone Hotel Investors, Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.2B
Institutions reporting
273
Shares held vs prior quarter
▲ 0.8%
Positions opened / closed
46 / 19

Top buyers and sellers, Q2 2026: 132 institutions bought and 118 sold ; the biggest buyer was Nuveen, LLC (+3.1M shares) and the biggest seller Massachusetts Financial Services Co (−4.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $402M 35.1M 18.1% ▲ 6.5%
Vanguard Portfolio Management LLC $226M 19.7M 10.2% ▲ 1.7%
State Street Corp $124M 10.7M 5.6% ▼ 0.6%
Blackstone Inc. $98.2M 8.6M 4.4% ▼ 0.8%
Vanguard Capital Management LLC $95.7M 8.4M 4.3% ▼ 2.4%
Bank Of America Corp $71.1M 6.2M 3.2% ▼ 38.5%
Geode Capital Management, LLC $59.5M 5.2M 2.7% ▲ 2.7%
Woodline Partners LP $53M 4.6M 2.4% ▲ 30.3%
Prudential Financial Inc $51.9M 4.5M 2.3% ▼ 2.2%
Nuveen, LLC $48.9M 4.3M 2.2% ▲ 271.4%
Charles Schwab Investment Management Inc $48.3M 4.2M 2.2% ▼ 1.5%
Citadel Advisors LLC $47.2M 4.1M 2.1% ▲ 67.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Sunstone Hotel Investors, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1M 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $1M net selling
Insider Date Trade Shares Price Value
Springer Robert C PRESIDENT AND CIO June 24, 2026 Sell 89,631 $11.62 $1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Sunstone Hotel Investors, Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded July 12, 2023, filed August 13, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 6, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 5, 2026
  • February 27, 2026
  • November 7, 2025
  • August 6, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Sunstone Hotel Investors, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Sunstone Hotel Investors, Inc. in brief

What does Sunstone Hotel Investors, Inc. do?
Sunstone Hotel Investors, Inc. is a US-listed company in the hotel & resort REITs industry. Its financial year ends in December.
What is Sunstone Hotel Investors, Inc.'s stock ticker?
Sunstone Hotel Investors, Inc. trades under the ticker SHO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Sunstone Hotel Investors, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Sunstone Hotel Investors, Inc. reported revenue of $1B, 7.3% higher than a year earlier, according to its SEC filings.
What is Sunstone Hotel Investors, Inc.'s free cash flow?
Sunstone Hotel Investors, Inc.'s free-cash-flow margin is 9.8% of revenue over the trailing twelve months.
Who are Sunstone Hotel Investors, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Sunstone Hotel Investors, Inc. buying back stock, and does it pay a dividend?
Sunstone Hotel Investors, Inc. spent $44.7M on share repurchases over the trailing twelve months, and its diluted share count fell 6.0% over the year.
What is Sunstone Hotel Investors, Inc.'s market cap?
On November 2, 2026, Sunstone Hotel Investors, Inc.'s market capitalisation was about $2.4B, with a price-to-earnings ratio of 57.8 and net debt of $886M. Market figures come from third-party market data and may be delayed.
Does Sunstone Hotel Investors, Inc. pay a dividend?
Yes: Sunstone Hotel Investors, Inc. paid $84.6M in dividends over the trailing twelve months, a dividend yield of 3.54% and a payout ratio of 201.9%.
How much debt does Sunstone Hotel Investors, Inc. have?
Sunstone Hotel Investors, Inc.'s debt-to-equity ratio is 51.5%, from its latest balance sheet (26.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Sunstone Hotel Investors, Inc.'s competitors?
In our Hotel & Resort REITs peer group, the companies closest to Sunstone Hotel Investors, Inc. are Ashford Hospitality Trust Inc, Xenia Hotels & Resorts, Inc., Diamondrock Hospitality Co, Summit Hotel Properties, Inc. and RLJ Lodging Trust. The side-by-side comparison below sets their revenue, margins and growth against Sunstone Hotel Investors, Inc.'s.
Are insiders buying or selling Sunstone Hotel Investors, Inc. stock?
Over the last 12 months, Sunstone Hotel Investors, Inc.'s directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Sunstone Hotel Investors, Inc.'s next earnings date?
Around November 6, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Sunstone Hotel Investors, Inc. announces its own schedule.