Sunstone Hotel: Overview of fourth quarter results

Sunstone Hotel Investors Inc. (SHO) announced a key measure of its fourth quarter profitability on Tuesday. The results missed Wall Street expectations.

The Irvine, Calif.-based real estate investment trust said it had operating funds of $17.5 million, or 8 cents per share, during the period.

The average estimate of seven analysts polled by Zacks Investment Research was for funds from operations 11 cents per share.

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

The company said it had net income of $134.6 million, or 61 cents per share.

The Irvine, Calif.-based hotel real estate investment trust posted revenue of $173.9 million during the period, also missing Street’s forecast. Six analysts polled by Zacks expected $177.1 million.

For the year, the company reported funds from operations of $8.4 million. Revenue was reported at $509.2 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHO at https://www.zacks.com/ap/SHO

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