Sunstone Hotel Investors received a Baa2 to Baa3 equivalent credit score, reflecting its financial strength despite operating in the riskier hotel industry. SHO's balance sheet metrics are comparable to high-rated REIT Agree Realty, but SHO offers a 1.3% higher yield on preferred shares. Moody's rates SHO lower due to the hotel industry's perceived higher risk and cyclical nature, despite stable revenue and operating expenses.
Sunstone Hotel Investors Inc. (SHO) is a relatively safe Hotel REIT due to its strong financials, including a 400% asset coverage ratio and no secured debt. SHO's preferred stocks offer a 7.3% yield, outperforming common stock's expected 8% FFO yield, making them a better risk-adjusted investment. SHO's preferred stocks have narrowed their spread to the 20-year Treasury, suggesting potential for higher credit ratings and narrower spreads in the future.
Sunstone Hotel Investors (SHO) came out with quarterly funds from operations (FFO) of $0.16 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to FFO of $0.19 per share a year ago.
ALISO VIEJO, Calif. , Jan. 30, 2025 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) announced the following tax treatment of the 2024 distributions to holders of the Company's common stock and Series H and Series I preferred stock.
Sunstone Hotel Investors, Inc. (NYSE:SHO ) Q3 2024 Earnings Conference Call November 12, 2024 12:00 PM ET Company Participants Aaron Reyes – Chief Financial Officer Bryan Giglia – Chief Executive Officer Robert Springer – President and Chief Investment Officer Conference Call Participants Michael Bellisario – Baird Dori Kesten – Wells Fargo Keegan Carl – Wolfe Research Smedes Rose – Citi Duane Pfennigwerth – Evercore ISI David Katz – Jefferies Chris Darling – Green Street Stephen Grambling – Morgan Stanley Chris Woronka – Deutsche Bank Floris van Dijkum – Compass Point Operator Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Sunstone Hotel Investors Third Quarter 2024 Earnings Call.
While the top- and bottom-line numbers for Sunstone Hotel (SHO) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Refinances Only 2024 Maturity ALISO VIEJO, Calif. , Nov. 12, 2024 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today announced results for the third quarter ended September 30, 2024.
Beyond analysts' top -and-bottom-line estimates for Sunstone Hotel (SHO), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.
Sunstone Hotel Investors' preferred shares are attractive due to a robust balance sheet and excellent dividend coverage, despite a recent AFFO guidance reduction. The preferred dividends are well-covered, with less than 10% of adjusted AFFO needed, ensuring financial stability even with seasonality impacts. Series H preferred shares offer a higher current yield (6.74%) compared to Series I (6.65%), making them slightly more attractive, though both are 'hold' at best.
ALISO VIEJO, Calif. , Oct. 10, 2024 /PRNewswire/ -- Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO) today provided an update on recent operating activity for the third quarter and the estimated resulting impact on its previously provided full-year 2024 outlook.