Sunstone Hotel: Q2 Earnings Snapshot

ALISO VIEJO, Calif. (AP) — ALISO VIEJO, Calif. (AP) — Sunstone Hotel Investors Inc. (SHO) on Friday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.

The real estate investment trust, based in Aliso Viejo, California, said it had funds from operations of $67.4 million, or 33 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 31 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 $39.3 million, or 19 cents per share.

The hotel real estate investment trust, based in Aliso Viejo, California, posted revenue of $276.1 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $274.6 million.

For the current quarter ending in September, Sunstone Hotel expects its per-share funds from operations to range from 18 cents to 21 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