Sunstone Hotel: Q4 Earnings Snapshot

IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Sunstone Hotel Investors Inc. (SHO) on Wednesday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.

The Irvine, California-based real estate investment trust said it had funds from operations of $53.7 million, or 26 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations 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 net income of $14.1 million, or 7 cents per share.

The hotel real estate investment trust, based in Irvine, California, posted revenue of $244.1 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $231.5 million.

For the year, the company reported funds from operations of $184.6 million. Revenue was reported as $912.1 million.

For the current quarter ending in March, Sunstone Hotel expects its per-share funds from operations to range from 16 cents to 18 cents.

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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