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Sunstone Hotel: Q1 Earnings Snapshot

By AP News - May 05, 2023, 07:48 AM ET
Last Updated - Jun 21, 2023, 10:25 PM EDT
Sunstone Hotel: Q1 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 first quarter. The results topped Wall Street expectations.

The Aliso Viejo, California-based real estate investment trust said it had funds from operations of $43.8 million, or 21 cents per share, in the period.

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The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 17 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.

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