Sunstone Hotel: Q3 Earnings Snapshot

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

The Aliso Viejo, California-based real estate investment trust said it had funds from operations of $46.4 million, or 23 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 20 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 $12.3 million, or 6 cents per share.

The hotel real estate investment trust, based in Aliso Viejo, California, posted revenue of $247.7 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $245.5 million.

For the current quarter ending in December, Sunstone Hotel expects its per-share funds from operations to range from 14 cents to 17 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