Sunstone Hotel: Q1 Earnings Snapshot

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

The real estate investment trust, based in Aliso Viejo, California, said it had funds from operations of $37.5 million, or 18 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 16 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 $9.4 million, or 5 cents per share.

The hotel real estate investment trust, based in Aliso Viejo, California, posted revenue of $217.2 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $212 million.

Sunstone Hotel expects full-year funds from operations in the range of 84 cents to 94 cents per share.

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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