SHO
Sunstone Hotel Investors, Inc.9.21
-0.07-0.75%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A colors modest guide, upside hints
Q&A unpacked the 1.5% RevPAR midpoint ex-Andaz, with Maui's occupancy index rebounding to 110% and transient pace up 53% countering D.C.'s group actualization lags and tough comps—potentially lifting guidance if trends hold. Expenses should rise ~3% for comparable hotels, ~5% portfolio-wide, supporting margin defense. Management doubled down on recycling assets at public-private gaps, flexibly deploying to buybacks (common reauthorized at $500M, preferred managed via Series G calls) or acquisitions. Wine Country ops hum undisturbed by sale talk; San Francisco Hyatt margins eyed higher amid AI/office revival. Early transient pops in D.C./San Diego encourage. Cautious yet, investors watch market durability.
Key Stats
Market Cap
1.75BP/E (TTM)
460.50Basic EPS (TTM)
0.02Dividend Yield
0.04%Recent Filings
8-K
Q4 RevPAR +9.6%, $170M returned
Sunstone Hotel Investors reported Q4 2025 results on February 27, 2026, with Total Portfolio RevPAR up 9.6% to $220.12 and Adjusted EBITDAre surging 17.6% to $56.6 million. Full-year RevPAR rose 3.8% while returning over $170 million to stockholders via dividends and $103.6 million in repurchases; board restored $500 million buyback authorization. Andaz Miami Beach ramps in 2026. No debt maturities until 2028.
10-K
FY2025 results
Sunstone Hotel Investors wrapped FY2025 with 14 upper-upscale and luxury hotels, posting total revenues of $960M, up 6.0% y/y, driven by strong group demand at key assets like Hyatt Regency San Francisco and Hilton San Diego Bayfront. The Comparable Portfolio of 11 hotels saw RevPAR rise 1.4% y/y on 100bps occupancy gains to 73.2%, while Q4 revenue share ticked up to 23.8% from 22.8%, signaling steady momentum despite renovations. Adjusted EBITDAre climbed 3.0% to $237M; yet net income fell to $25M on a $9M loss from selling Hilton New Orleans St. Charles. Q4 flexed with $109M cash and $500M undrawn revolver, but $930M debt at 5.0% weighs in. Stock repurchases hit $104M. Government travel cuts threaten quarterly flow.
8-K
Barnello joins Sunstone board
Sunstone Hotel Investors elected Michael Barnello to its board effective November 15, 2025, expanding to nine members. The ex-CEO of LaSalle Hotel Properties brings deep lodging REIT expertise from managing 41 upscale hotels. Board now packs more hospitality punch. Chairman Pasquale hails his value-maximizing skills; Tarsadia Capital welcomes the move.
8-K
Q3 RevPAR rises, EBITDA dips
Sunstone Hotel Investors posted Q3 net income of $1.3M, down from $3.2M, with RevPAR up 2.0% to $216.12 on 70.3% occupancy yet Adjusted EBITDAre off 6.6% to $50.1M amid market headwinds. Portfolio held steady ex-Andaz Miami renovation. Recast $1.35B credit facilities, pushing maturities past 2028; repurchased 258,870 shares at $8.70. Full-year outlook unchanged. Debt-free until 2028.
10-Q
Q3 FY2025 results
Sunstone Hotel Investors posted Q3 revenues of $229.3M, up 1.3% y/y, driven by room ($139.5M, +0.6%), food & beverage ($64.4M, +0.9%), and other ($25.4M, +6.8%); operating expenses rose 3.5% to $217.4M, yielding net income of $1.3M but a $2.9M common loss after $4.3M preferred dividends (diluted EPS $(0.02), consistent with 189M shares). YTD revenues climbed 4.6% to $723.2M with diluted EPS $0.03; operating cash flow hit $145.1M (up y/y), less $73.7M capex for ~$71.4M FCF (derived). Cash swelled to $121.1M (+ unrestricted), debt to $917.5M net after September's Amended Credit Agreement extended revolver to 2029 with $500M available; repurchased $100.7M shares YTD. Hotel Adjusted EBITDAre (reconciled) fell to $52.7M. Geographic concentration exposes outsized risks from regional disasters.
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