Every 10-Q that Sunstone Hotel Investors, Inc. (SHO) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow SHO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SHO filings page.
Sunstone Hotel Investors, Inc. reported stronger second-quarter 2026 results, with total revenues of $277,109 thousand and net income of $26,025 thousand, up 6.7% and 141.6% from 2025. Net income attributable to common stockholders rose to $25,979 thousand, and Adjusted EBITDAre increased to $76,712 thousand.
For the first six months of 2026, total revenues reached $536,818 thousand and net income attributable to common stockholders grew 413.5% to $41,934 thousand, supported by higher RevPAR and lower interest expense. Operating cash flow was $107,441 thousand, with $68,742 thousand of common and preferred stock repurchases and total debt of $980,000 thousand, about 59.2% at fixed rates. The company classified Hyatt Regency San Francisco as held for sale and subsequently sold it for $279.0 million, and it absorbed storm-related costs and a $1,639 thousand asset write-off at Wailea Beach Resort that were largely offset by insurance and business interruption recoveries.
Sunstone Hotel Investors posted significantly stronger Q1 2026 results. Total revenues rose to $259.7 million from $234.1 million, driven by higher room, food and beverage, and other operating revenue. Comparable portfolio RevPAR increased 5.7%, supported by a 4.7% ADR gain and slightly higher occupancy.
Profitability improved sharply. Net income increased to $18.6 million from $5.3 million, and net income attributable to common stockholders rose to $16.0 million, or $0.08 per diluted share, up from $0.01. Hotel Adjusted EBITDAre grew to $71.8 million from $60.8 million, while Adjusted FFO attributable to common stockholders increased to $50.1 million from $41.5 million.
The balance sheet remains liquid and active. The company ended the quarter with $91.1 million of unrestricted cash and $166.7 million including restricted cash, plus full $500.0 million availability on its revolving credit facility at March 31, 2026. Debt totaled $955.0 million, 60.7% of which carries fixed or swapped rates, and cash from operating activities was $45.4 million.
Capital allocation was aggressive. Sunstone invested $31.0 million in renovations and additions and repurchased 3.18 million common shares and 365,095 preferred shares for a combined $36.5 million, leaving $471.1 million under its $500.0 million repurchase program. The company also faces storm-related damage at Wailea Beach Resort in Hawaii, with losses still being assessed but with property and business interruption insurance in place.
Sunstone Hotel Investors (SHO) reported Q3 2025 results. Total revenues were $229,323 and net income was $1,322. After preferred dividends, the company posted a loss attributable to common stockholders of $2,940, or $(0.02) per share. Year‑to‑date, revenues reached $723,160 with net income of $17,351.
Operations remained steady: room revenue was $139,523 and food & beverage was $64,419. The company closed the sale of the Hilton New Orleans St. Charles for $47,000, recording an $8,751 loss year‑to‑date. In September, Sunstone amended its unsecured credit facilities, expanding term loans to $850,000 across three new tranches while keeping a $500,000 revolving credit facility; there was no balance outstanding on the revolver at quarter‑end. Total debt was $930,000 (net carrying amount $917,452), cash and cash equivalents were $121,136, and operating cash flow for the first nine months was $145,133. Sunstone repurchased 11,381,731 common shares year‑to‑date for $100,727, leaving $327,000 available under the program as of September 30, 2025.
Sunstone Hotel Investors (SHO) Q2-25 10-Q highlights:
- Revenue: Q2 rose 5% YoY to $259.8 m; YTD up 6% to $493.8 m.
- Profitability: Q2 net income dropped 59% YoY to $10.8 m; EPS fell to $0.03 from $0.11. YTD net income slid 59% to $16.0 m, EPS to $0.04.
- Margins: Operating expenses climbed 8% YoY, pressuring margin; interest expense up 4% to $13.2 m.
- Capital moves: Repurchased 10.3 m shares in Q2 and 11.1 m YTD for $98.5 m, leaving $329 m authorization. Common shares outstanding dropped to 190.2 m.
- Balance sheet (6/30/25): Cash & equivalents $73.6 m (-31% vs 12/24); debt $872 m ( +3% ); net debt rose as cash fell; equity declined to $1.98 bn (-6%).
- Asset recycling: Sold Hilton New Orleans St. Charles for $47 m, recording an $8.8 m loss; proceeds partly offset $56 m cap-ex spend.
- Liquidity: Drew $27 m on $500 m revolver, leaving $473 m undrawn; operating cash flow steady at $90.8 m.
- Portfolio: Owns 14 hotels; Q2 Hotel Adjusted EBITDAre flat at $75.9 m.
Overall, modest top-line growth was outweighed by higher operating costs, asset sale loss and increased buyback spending, leading to materially lower earnings and reduced cash.