Sunstone Hotel Investors
Owner and asset manager of upper-upscale and luxury U.S. hotels and resorts.
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Profile
Owns upper-upscale and luxury hotels and resorts across U.S. convention, urban, and leisure markets, earning primarily room and food-and-beverage revenue. Properties are leased through a taxable REIT subsidiary and operated by independent managers, while acquisitions, renovations, and dispositions reshape the portfolio.
Owns 13 upper-upscale and luxury hotels and resorts in U.S. convention, urban, and leisure destinations following the sale of Hyatt Regency San Francisco. The portfolio spans Marriott, Hyatt, Hilton, Four Seasons, and Montage brands, plus the independent Oceans Edge Resort & Marina. Room sales provide most revenue, supplemented by food and beverage, parking, resort fees, spa, marina, and other hotel services.
Builds value through acquisitions, property investment, hotel repositioning, active asset management, and selective dispositions. Hotel demand, room rates, group business, leisure travel, and property-level labor and operating costs shape results. REIT rules restrict direct hotel operating income, so each property is leased to a taxable REIT subsidiary and run by an independent third-party manager under a long-term agreement.
Company facts
Key statistics
Year to date +24.3% · Average volume (30d) 2.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jun 24, 2026 | Wells Fargo | Reiterate | Overweight | $11 | $13 | |
| Jan 12, 2026 | Robert W. Baird | Target | $12 | $10 | ||
| Jan 12, 2026 | Baird | Downgrade | Outperform | Neutral | ||
| Jan 5, 2026 | Wells Fargo | Upgrade | Equal Weight | Overweight | $12 | $11 |
| May 16, 2025 | Evercore ISI Group | Upgrade | In Line | Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.08 | $0.14 | +66.9% | $266.7M | $277.1M | +3.9% | −3.34% |
| May 5, 2026Q1 FY26 | $0.07 | $0.27 | +315.4% | $244.3M | $259.7M | +6.3% | +2.30% |
| Feb 27, 2026Q4 FY25 | $0.01 | $0.20 | +1,900.0% | $222.9M | $237.0M | +6.3% | +2.26% |
| Nov 7, 2025Q3 FY25 | $0.15 | $0.17 | +13.3% | $226.2M | $229.3M | +1.4% | +4.34% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $234.1M | $259.8M | $229.3M | $237.0M | $259.7M | $277.1M | |
| Gross profit | $107.2M | $130.5M | $101.0M | −$293.2M | $123.0M | $277.1M | |
| Operating income | $16.5M | $30.4M | $11.9M | $16.1M | $28.4M | $34.2M | |
| Net income | $5.3M | $10.8M | $1.3M | $7.2M | $18.6M | $26.0M | |
| Diluted EPS | $0.01 | $0.03 | −$0.02 | $0.04 | $0.08 | $0.14 | |
| Gross margin | 45.8% | 50.3% | 44.0% | -123.7% | 47.4% | 100.0% | |
| Operating margin | 7.0% | 11.7% | 5.2% | 6.8% | 10.9% | 12.3% |
Fiscal years (4-quarter sums)FY21 $509.2M · FY22 $911.1M · FY23 $986.0M · FY24 $905.8M · FY25 $960.1M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $94.4M · Total debt $974.9M · Total assets $3.03B · Shareholders' equity $1.88B
Dividends
Raised for 3 straight years — most recently to $0.09 from $0.07 in Jun 2024. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.09 | |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.09 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.09 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.09 | |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.09 | |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.09 | |
| Dec 31, 2024 | Dec 31 | Jan 15 | $0.09 | |
| Sep 30, 2024 | Sep 30 | Oct 15 | $0.09 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 186.29M · Float 183.38M · 98.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 35.12M | 18.85% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 19.74M | 10.59% | 13F | Aug 13, 2026 |
| State Street Corp | 10.74M | 5.77% | 13F | Aug 7, 2026 |
| Blackstone Inc. | 8.58M | 4.61% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 8.36M | 4.49% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 24, 2026 | Robert C. Springer | officer: PRESIDENT AND CIO | −89,631 | $11.62 |
Peers
- Host Hotels & Resorts
Largest US lodging REIT; ~76 luxury and upper-upscale hotels
- Park Hotels & Resorts
Hilton spin-off REIT owning 34 upper-upscale/luxury hotels in top US markets
- Pebblebrook Hotel Trust
Largest US lifestyle/upper-upscale lodging REIT, coastal urban and resort focus
- DiamondRock Hospitality
Lodging REIT with 35 upper-upscale hotels across US gateway cities and resorts
- Xenia Hotels & Resorts
Upper-upscale lodging REIT with 30 branded full-service hotels in US top markets
- Ryman Hospitality Properties
Gaylord Hotels convention-resort REIT; 12,364 rooms across 5 flagship venues
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Sunstone Hotel Investors | $11.33 | −0.13% | $2.11B | 46.0 | 52.5 | 2.1 | +6.7% |
| Host Hotels & Resorts | $22.40 | +0.63% | $15.26B | 15.2 | 22.3 | 2.5 | +3.4% |
| Park Hotels & Resorts | $15.83 | −0.09% | $3.19B | — | 28.1 | 1.3 | +1.2% |
| Pebblebrook Hotel Trust | $18.49 | −0.05% | $2.09B | — | — | 1.4 | −0.1% |
| DiamondRock Hospitality | $12.70 | 0.00% | $2.60B | 17.4 | 20.1 | 2.3 | +4.1% |
| Xenia Hotels & Resorts | $19.62 | +0.87% | $1.80B | — | 38.1 | 1.6 | +2.8% |
| Ryman Hospitality Properties | $129.33 | −0.01% | $8.16B | 31.5 | 27.0 | 3.0 | +13.6% |
| Median | 17.4 | 27.0 | 2.0 | +3.1% |