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Sunstone Hotel Investors (SHO)

Market Price (5/24/2026): $10.61 | Market Cap: $2.0 Bil
Sector: Real Estate | Industry: Hotel & Resort REITs

Sunstone Hotel Investors (SHO)

Market Price (5/24/2026): $10.61
Market Cap: $2.0 Bil
Sector: Real Estate
Industry: Hotel & Resort REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%

Attractive yield
FCF Yield is 9.8%

Low stock price volatility
Vol 12M is 25%

Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Premium Travel & Hospitality, Show more.

Trading close to highs
Dist 52W High is -0.8%

Weak multi-year price returns
2Y Excs Rtn is -31%, 3Y Excs Rtn is -64%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.2%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2%

Key risks
SHO key risks include [1] market-specific challenges impacting its portfolio, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%
1 Attractive yield
FCF Yield is 9.8%
2 Low stock price volatility
Vol 12M is 25%
3 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Premium Travel & Hospitality, Show more.
4 Trading close to highs
Dist 52W High is -0.8%
5 Weak multi-year price returns
2Y Excs Rtn is -31%, 3Y Excs Rtn is -64%
6 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.2%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.2%
8 Key risks
SHO key risks include [1] market-specific challenges impacting its portfolio, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Sunstone Hotel Investors (SHO) stock has gained about 20% since 1/31/2026 because of the following key factors:

1. Sunstone Hotel Investors delivered exceptional first-quarter 2026 financial results, surpassing analyst expectations and subsequently raising its full-year guidance. The company reported Adjusted Funds From Operations (AFFO) of $0.27 per diluted share, significantly beating the consensus estimate of $0.22 per share by 22.7%. Total revenues climbed 11% year-over-year to $259.7 million, exceeding estimates by 6.3%. This strong performance led management to increase its 2026 outlook, projecting Adjusted FFO per diluted share to range from $0.88 to $0.96.

2. The successful renovation and ramp-up of the Andaz Miami Beach resort emerged as a significant growth driver, exceeding internal expectations. In the first quarter of 2026, this property generated $18.7 million in revenue and $6.5 million in EBITDA. It is expected to contribute approximately 400 basis points to the company's RevPAR and Total RevPAR growth for the full year 2026. Management anticipates the resort will achieve annual EBITDA of $28 million to $31 million upon stabilization.

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Stock Movement Drivers

Fundamental Drivers

The 22.3% change in SHO stock from 1/31/2026 to 5/23/2026 was primarily driven by a 98.1% change in the company's Net Income Margin (%).
(LTM values as of)13120265232026Change
Stock Price ($)8.6810.6222.3%
Change Contribution By: 
Total Revenues ($ Mil)9389865.1%
Net Income Margin (%)1.9%3.8%98.1%
P/E Multiple90.352.8-41.5%
Shares Outstanding (Mil)1891880.5%
Cumulative Contribution22.3%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/23/2026
ReturnCorrelation
SHO22.3% 
Market (SPY)8.1%46.5%
Sector (XLRE)8.3%48.6%

Fundamental Drivers

The 22.4% change in SHO stock from 10/31/2025 to 5/23/2026 was primarily driven by a 78.6% change in the company's Net Income Margin (%).
(LTM values as of)103120255232026Change
Stock Price ($)8.6710.6222.4%
Change Contribution By: 
Total Revenues ($ Mil)9359865.4%
Net Income Margin (%)2.2%3.8%78.6%
P/E Multiple84.452.8-37.4%
Shares Outstanding (Mil)1961883.9%
Cumulative Contribution22.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/23/2026
ReturnCorrelation
SHO22.4% 
Market (SPY)9.9%44.7%
Sector (XLRE)10.9%41.4%

Fundamental Drivers

The 32.5% change in SHO stock from 4/30/2025 to 5/23/2026 was primarily driven by a 42.4% change in the company's P/E Multiple.
(LTM values as of)43020255232026Change
Stock Price ($)8.0210.6232.5%
Change Contribution By: 
Total Revenues ($ Mil)9069868.8%
Net Income Margin (%)4.8%3.8%-19.6%
P/E Multiple37.152.842.4%
Shares Outstanding (Mil)2001886.3%
Cumulative Contribution32.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/23/2026
ReturnCorrelation
SHO32.5% 
Market (SPY)36.0%48.8%
Sector (XLRE)11.6%42.5%

Fundamental Drivers

The 23.8% change in SHO stock from 4/30/2023 to 5/23/2026 was primarily driven by a 157.0% change in the company's P/E Multiple.
(LTM values as of)43020235232026Change
Stock Price ($)8.5810.6223.8%
Change Contribution By: 
Total Revenues ($ Mil)9129868.1%
Net Income Margin (%)9.6%3.8%-59.9%
P/E Multiple20.552.8157.0%
Shares Outstanding (Mil)20918811.0%
Cumulative Contribution23.8%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/23/2026
ReturnCorrelation
SHO23.8% 
Market (SPY)86.3%57.0%
Sector (XLRE)30.9%47.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SHO Return4%-17%14%14%-21%21%7%
Peers Return22%-18%30%-4%-10%23%39%
S&P 500 Return27%-19%24%23%16%9%98%

Monthly Win Rates [3]
SHO Win Rate50%33%58%58%33%60% 
Peers Win Rate50%43%55%40%50%72% 
S&P 500 Win Rate75%42%67%75%67%60% 

Max Drawdowns [4]
SHO Max Drawdown-23%-25%-22%-16%-36%-9% 
Peers Max Drawdown-23%-35%-24%-22%-33%-11% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: HST, PK, RHP, APLE, PEB. See SHO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/22/2026 (YTD)

How Low Can It Go

EventSHOS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-11.5%-9.5%
  % Gain to Breakeven13.0%10.5%
  Time to Breakeven70 days24 days
2023 SVB Regional Banking Crisis
  % Loss-17.2%-6.7%
  % Gain to Breakeven20.7%7.1%
  Time to Breakeven75 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-20.2%-24.5%
  % Gain to Breakeven25.3%32.4%
  Time to Breakeven795 days427 days
2020 COVID-19 Crash
  % Loss-46.1%-33.7%
  % Gain to Breakeven85.6%50.9%
  Time to Breakeven342 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-24.8%-12.2%
  % Gain to Breakeven33.0%13.9%
  Time to Breakeven43 days62 days
2014-2016 Oil Price Collapse
  % Loss-20.8%-6.8%
  % Gain to Breakeven26.2%7.3%
  Time to Breakeven37 days15 days

Compare to HST, PK, RHP, APLE, PEB

In The Past

Sunstone Hotel Investors's stock fell -9.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 10.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventSHOS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-20.2%-24.5%
  % Gain to Breakeven25.3%32.4%
  Time to Breakeven795 days427 days
2020 COVID-19 Crash
  % Loss-46.1%-33.7%
  % Gain to Breakeven85.6%50.9%
  Time to Breakeven342 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-24.8%-12.2%
  % Gain to Breakeven33.0%13.9%
  Time to Breakeven43 days62 days
2014-2016 Oil Price Collapse
  % Loss-20.8%-6.8%
  % Gain to Breakeven26.2%7.3%
  Time to Breakeven37 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-46.1%-17.9%
  % Gain to Breakeven85.6%21.8%
  Time to Breakeven114 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-30.0%-15.4%
  % Gain to Breakeven42.9%18.2%
  Time to Breakeven1044 days125 days
2008-2009 Global Financial Crisis
  % Loss-87.6%-53.4%
  % Gain to Breakeven703.6%114.4%
  Time to Breakeven2087 days1085 days

Compare to HST, PK, RHP, APLE, PEB

In The Past

Sunstone Hotel Investors's stock fell -9.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 10.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Sunstone Hotel Investors (SHO)

Sunstone Hotel Investors, Inc. is a lodging real estate investment trust ("REIT") that as of the date of this release has interests in 19 hotels comprised of 9,997 rooms. Sunstone's business is to acquire, own, asset manage and renovate or reposition hotels considered to be Long-Term Relevant Real Estate®, the majority of which are operated under nationally recognized brands, such as Marriott, Hilton and Hyatt.

AI Analysis | Feedback

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  • Hotel Real Estate Ownership: Sunstone's primary business involves the strategic acquisition and ownership of a portfolio of upscale hotel properties.
  • Hotel Asset Management: The company provides active asset management services to optimize the operational and financial performance of its hotel investments.
  • Hotel Renovation and Repositioning: Sunstone undertakes strategic renovation and repositioning projects to enhance the competitiveness and value of its hotel properties.

AI Analysis | Feedback

Sunstone Hotel Investors (SHO) primarily engages with other companies for the operation of its hotels. Its major customers are the nationally recognized hotel brands that operate the properties owned by Sunstone.

  • Marriott International (MAR)
  • Hilton Worldwide Holdings (HLT)
  • Hyatt Hotels Corporation (H)

AI Analysis | Feedback

  • Marriott International, Inc. (MAR)
  • Hilton Worldwide Holdings Inc. (HLT)
  • Hyatt Hotels Corporation (H)
  • HEI Hotels and Resorts
  • Aimbridge Hospitality

AI Analysis | Feedback

Bryan A. Giglia Chief Executive Officer and Director

Bryan A. Giglia was appointed Chief Executive Officer of Sunstone Hotel Investors in March 2022, having previously served as the company's Chief Financial Officer. He has held various finance roles at Sunstone since joining in March 2004. Prior to his tenure at Sunstone, Mr. Giglia worked in various accounting positions for Hilton Hotel Corporation from August 1998 to August 2002. He earned an M.B.A. degree from the Marshall School of Business at the University of Southern California and a B.S. degree in Business Administration from the University of Arizona.

Aaron R. Reyes Executive Vice President & Chief Financial Officer

Aaron R. Reyes was appointed Chief Financial Officer of Sunstone Hotel Investors in March 2022, succeeding Bryan Giglia. Before this role, Mr. Reyes served as Senior Vice President – Corporate Finance and Treasurer since February 2021, and as Vice President – Corporate Finance since April 2016. Prior to joining Sunstone in 2016, he worked in the real estate and lodging investment banking divisions at Morgan Stanley and Bank of America Merrill Lynch. Earlier in his career, he was a manager with Accenture, a global consulting firm.

Robert C. Springer President & Chief Investment Officer

Robert C. Springer serves as President and Chief Investment Officer for Sunstone Hotel Investors, a position he assumed in March 2022, having joined the company in May 2011. Before joining Sunstone, Mr. Springer was a Vice President in the Merchant Banking Division of Goldman, Sachs & Co., where he focused on lodging investments. His involvement at Goldman Sachs included working with the firm's principal lodging investing activity, primarily through the Whitehall Street Real Estate series of private equity funds and the Goldman Sachs Real Estate Mezzanine Partners fund, encompassing all aspects of hotel equity and debt investing and asset management of numerous lodging portfolios. From 2004 to 2006, Mr. Springer worked in both the feasibility and acquisitions groups at Host Hotels & Resorts. He began his career with PricewaterhouseCoopers, LLP in the Hospitality Consulting Group from 1999 to 2004.

Chris Ostapovicz Executive Vice President & Chief Operating Officer

Chris Ostapovicz joined Sunstone Hotel Investors as Senior Vice President & Chief Operating Officer in March 2021 and currently serves as Executive Vice President & Chief Operating Officer. Prior to Sunstone, he was the Senior Vice President of Asset Management at Host Hotels & Resorts, a company he joined in 2007. Mr. Ostapovicz's career also includes various operating and finance positions at The Ritz-Carlton Hotel Company and Marriott International. He previously served as a board director and treasurer for the Hospitality Asset Managers Association (HAMA) for five years and was one of three faculty members to start Georgetown University's master's in global hospitality in 2014.

David Klein Executive Vice President & General Counsel

David Klein is the Executive Vice President & General Counsel at Sunstone Hotel Investors, joining the company in July 2016. Before his time at Sunstone, Mr. Klein was a Partner in the Hospitality & Leisure group of Dentons, LLP. He also held the roles of co-founding Principal, Chief Administrative Officer, and General Counsel of NYLO Hotels and Advaya Hospitality.

AI Analysis | Feedback

Key Risks to Sunstone Hotel Investors (SHO)

  1. Sensitivity to Economic Downturns: As a lodging real estate investment trust specializing in upper upscale and luxury hotels, Sunstone Hotel Investors is particularly vulnerable to economic downturns. Decreased business and leisure travel during periods of economic difficulty, recession, or international economic and political uncertainties can lead to reduced demand for hotel rooms and, consequently, lower revenue.
  2. High Fixed Operating Costs and Inflationary Pressures: The nature of operating upper upscale and luxury hotels entails relatively high fixed costs. The company faces challenges from contractual cost escalations and general inflationary pressures across its portfolio, which can negatively impact operating margins and make it difficult to translate modest revenue gains into consistent earnings.
  3. Intense Competition: Sunstone Hotel Investors operates in a highly competitive environment. This includes competition from existing hotels, new hotel developments, and alternative lodging options. Such intense competition can drive up property acquisition costs, affect supply and demand dynamics, and pressure pricing, thereby impacting the company's operational performance and profitability.

AI Analysis | Feedback

  • The long-term shift towards remote and hybrid work models, which may permanently reduce demand for traditional business travel and large corporate and group events, impacting occupancy and revenue at hotels primarily serving these segments.
  • The continued expansion and professionalization of alternative accommodation platforms (e.g., Airbnb, Vrbo) into market segments traditionally served by hotels, including luxury, extended stay, and business travel, intensifying competition for guests.

AI Analysis | Feedback

Sunstone Hotel Investors Addressable Market

For Sunstone Hotel Investors (symbol: SHO), the addressable market for their main products or services, which are upper upscale and luxury hotel accommodations and related hospitality services, is primarily the U.S. hotel market.

The U.S. hotel market was estimated at approximately $263.21 billion in 2024 and is projected to grow to $280.63 billion in 2025. This market is expected to reach $395.69 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.1% from 2025 to 2030. Another estimate places the U.S. Hotels & Motels market size at $285.1 billion in 2024 and $286.5 billion in 2025.

Focusing on Sunstone's specialization, the luxury and upscale segment constituted approximately 61% of the U.S. hotel market in 2024.

Therefore, the addressable market for Sunstone Hotel Investors is the U.S. hotel market, with a significant concentration on the multi-billion dollar upper upscale and luxury hotel segment within that region.

AI Analysis | Feedback

Sunstone Hotel Investors (SHO) anticipates several key drivers of future revenue growth over the next 2-3 years, primarily stemming from projected improvements in RevPAR, the significant contribution of recently renovated assets, and continued strong performance across its portfolio, particularly in group business.

  1. Expected Increase in Rooms and Total RevPAR: The company forecasts a notable increase in its Rooms Revenue Per Available Room (RevPAR) and Total RevPAR. For 2026, Sunstone Hotel Investors expects Rooms RevPAR for all hotels in its portfolio to increase between 4% and 7%, reaching a range of $234 to $241. Concurrently, Total RevPAR is projected to grow between 3.5% and 6.5%, implying a range of $385 to $396. These projections indicate anticipated improvements in both occupancy rates and average daily rates across its properties.
  2. Full-Year Contribution and Continued Traction from Andaz Miami Beach: The recently renovated Andaz Miami Beach is expected to be a substantial driver of revenue growth. Management anticipates that this property will contribute approximately 400 basis points (4%) to both Rooms and Total RevPAR growth at the midpoint for 2026. Early 2026 performance for Andaz Miami Beach has shown strong occupancy rates above 80% and significant group room bookings, further supporting its role as a key growth catalyst.
  3. Strong Performance and Growth in Group Business Across Key Properties: Several properties within Sunstone's portfolio are demonstrating robust performance and are expected to continue driving revenue. Resorts like the Wailea Beach Resort and Montage Healdsburg have shown strong RevPAR growth. Furthermore, urban hotels such as the Marriott Long Beach Downtown and The Bidwell Marriott have delivered impressive total RevPAR growth. Crucially, the San Francisco Hotel and Renaissance Orlando SeaWorld are reporting increased group pace and production for 2026, indicating a rebound and sustained growth in the valuable group business segment.

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Share Repurchases

  • Sunstone Hotel Investors' Board of Directors reauthorized a stock repurchase program of up to $500 million in February 2026, with nearly the full amount available.
  • In 2025, the company repurchased $103.6 million of its common and preferred stock, with an additional $7.5 million repurchased through February 26, 2026.
  • The company repurchased $27.2 million of its common stock in 2024.

Outbound Investments

  • In June 2025, Sunstone Hotel Investors sold the Hilton New Orleans St. Charles for $47.0 million.
  • The company acquired the Hyatt Regency San Antonio Riverwalk in April 2024.
  • Sunstone Hotel Investors acquired The Confidante Miami Beach in June 2022.

Capital Expenditures

  • The company invested $103.0 million into its portfolio in 2025, primarily for the completion of the Andaz Miami Beach transformation and renovations at Wailea Beach Resort, Hyatt Regency San Antonio Riverwalk, and Hilton San Diego Bayfront.
  • In 2024, Sunstone Hotel Investors invested $157.4 million into its portfolio, with the majority focused on the conversions of Andaz Miami Beach and the Marriott Long Beach Downtown, and a soft goods renovation at Wailea Beach Resort.
  • For 2026, the company expects to invest approximately $95 million to $115 million into its portfolio, largely for ongoing renovation of the meeting space at Hilton San Diego Bayfront and renovation work at Oceans Edge Resort & Marina.

Better Bets vs. Sunstone Hotel Investors (SHO)

Latest Trefis Analyses

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Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
SBAC_3272026_Dip_Buyer_FCFYield03272026SBACSBA CommunicationsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		32.4%32.4%0.0%
HIW_3132026_Dip_Buyer_ValueBuy03132026HIWHighwoods PropertiesDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		13.3%13.3%-4.1%
ARE_3062026_Insider_Buying_GTE_1Mil_EBITp+DE_V203062026AREAlexandria Real Estate EquitiesInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		-18.9%-18.9%-19.1%
VNO_3062026_Insider_Buying_GTE_1Mil_EBITp+DE_V203062026VNOVornado Realty TrustInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		11.0%11.0%-8.3%
KRC_2272026_Dip_Buyer_ValueBuy02272026KRCKilroy RealtyDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		13.7%13.7%-5.4%
SHO_2292020_Dip_Buyer_FCFYield02292020SHOSunstone Hotel InvestorsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-20.8%21.3%-36.2%

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Peer Comparisons

Peers to compare with:

Financials

SHOHSTPKRHPAPLEPEBMedian
NameSunstone.Host Hot.Park Hot.Ryman Ho.Apple Ho.Pebblebr. 
Mkt Price10.6222.3811.51111.9614.4714.7814.62
Mkt Cap2.015.42.37.13.41.72.9
Rev LTM9866,1652,5332,6541,4221,5012,017
Op Inc LTM88868233513251103242
FCF LTM19592769302274283279
FCF 3Y Avg183890149271307266268
CFO LTM1951,547371662370283370
CFO 3Y Avg1831,494428621391266409

Growth & Margins

SHOHSTPKRHPAPLEPEBMedian
NameSunstone.Host Hot.Park Hot.Ryman Ho.Apple Ho.Pebblebr. 
Rev Chg LTM6.8%6.2%-2.2%10.7%-0.5%2.8%4.5%
Rev Chg 3Y Avg0.2%5.8%-1.7%9.9%3.4%1.4%2.4%
Rev Chg Q11.0%3.2%-1.3%13.2%3.1%7.9%5.6%
QoQ Delta Rev Chg LTM2.7%0.8%-0.3%3.0%0.7%1.7%1.3%
Op Inc Chg LTM12.7%10.4%-25.8%-0.1%-6.8%32.4%5.2%
Op Inc Chg 3Y Avg-10.8%-0.1%-12.5%6.6%0.7%6.0%0.3%
Op Mgn LTM8.9%14.1%9.2%19.3%17.7%6.8%11.6%
Op Mgn 3Y Avg9.6%13.8%11.2%20.4%18.5%5.5%12.5%
QoQ Delta Op Mgn LTM1.0%0.5%0.3%0.3%-0.1%1.7%0.4%
CFO/Rev LTM19.8%25.1%14.6%24.9%26.0%18.9%22.4%
CFO/Rev 3Y Avg19.1%25.9%16.4%25.7%27.8%18.2%22.4%
FCF/Rev LTM19.8%15.0%2.7%11.4%19.3%18.9%17.0%
FCF/Rev 3Y Avg19.1%15.4%5.7%11.2%21.9%18.2%16.8%

Valuation

SHOHSTPKRHPAPLEPEBMedian
NameSunstone.Host Hot.Park Hot.Ryman Ho.Apple Ho.Pebblebr. 
Mkt Cap2.015.42.37.13.41.72.9
P/S2.02.50.92.72.41.12.2
P/Op Inc22.817.79.813.813.616.315.0
P/EBIT22.711.646.713.713.427.818.2
P/E52.815.2-10.728.119.9-32.117.6
P/CFO10.29.96.210.79.25.99.6
Total Yield1.9%10.8%-0.7%7.7%11.7%-2.8%4.8%
Dividend Yield0.0%4.3%8.7%4.2%6.7%0.3%4.2%
FCF Yield 3Y Avg9.5%7.2%5.8%4.5%9.5%18.6%8.4%
D/E0.50.41.80.60.51.40.5
Net D/E0.40.31.70.50.51.30.5

Returns

SHOHSTPKRHPAPLEPEBMedian
NameSunstone.Host Hot.Park Hot.Ryman Ho.Apple Ho.Pebblebr. 
1M Rtn11.1%6.2%4.0%11.3%10.8%7.6%9.2%
3M Rtn14.1%10.9%4.8%8.2%19.5%16.6%12.5%
6M Rtn19.6%32.4%15.0%21.8%28.1%33.7%25.0%
12M Rtn27.4%60.7%24.2%24.7%36.6%67.2%32.0%
3Y Rtn18.9%58.5%24.0%42.4%22.8%12.6%23.4%
1M Excs Rtn6.0%1.1%-1.2%6.2%5.6%2.4%4.0%
3M Excs Rtn6.5%5.2%-3.1%0.7%11.5%11.2%5.9%
6M Excs Rtn5.5%23.1%7.8%13.4%19.4%26.9%16.4%
12M Excs Rtn0.8%32.2%-4.2%-3.6%7.3%34.9%4.0%
3Y Excs Rtn-63.8%-25.5%-61.8%-42.7%-63.2%-73.7%-62.5%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Hotel Ownership906986   
Food and beverage  2418455
Other operating  957243
Room  576353170
Total906986912509268


Net Income by Segment
$ Mil20252024202320222021
Hotel Ownership43    
Total43    


Price Behavior

Price Behavior
Market Price$10.62 
Market Cap ($ Bil)2.0 
First Trading Date10/21/2004 
Distance from 52W High-0.8% 
   50 Days200 Days
DMA Price$9.62$9.20
DMA Trendupup
Distance from DMA10.4%15.4%
 3M1YR
Volatility25.1%25.2%
Downside Capture70.9870.71
Upside Capture98.3277.13
Correlation (SPY)53.1%44.6%
SHO Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta0.360.790.690.791.011.01
Up Beta0.480.350.430.911.411.09
Down Beta3.371.441.461.081.150.97
Up Capture44%87%78%68%69%70%
Bmk +ve Days15223166141428
Stock +ve Days15243566120352
Down Capture-98%79%41%63%82%102%
Bmk -ve Days4183056108321
Stock -ve Days7192856125372

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with SHO
SHO28.8%25.1%0.96-
Sector ETF (XLRE)13.2%13.4%0.6742.2%
Equity (SPY)29.5%12.0%1.8644.3%
Gold (GLD)35.5%26.8%1.116.0%
Commodities (DBC)42.9%18.7%1.77-15.0%
Real Estate (VNQ)15.2%13.1%0.8249.1%
Bitcoin (BTCUSD)-31.3%41.8%-0.7828.1%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with SHO
SHO-1.1%30.4%-0.00-
Sector ETF (XLRE)4.6%19.0%0.1451.0%
Equity (SPY)14.0%17.0%0.6461.5%
Gold (GLD)18.8%18.0%0.856.0%
Commodities (DBC)10.4%19.4%0.4217.9%
Real Estate (VNQ)3.8%18.8%0.1056.6%
Bitcoin (BTCUSD)11.6%55.3%0.4128.4%

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Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with SHO
SHO1.5%33.2%0.13-
Sector ETF (XLRE)6.9%20.4%0.3056.2%
Equity (SPY)15.7%17.9%0.7560.3%
Gold (GLD)13.0%16.0%0.67-0.5%
Commodities (DBC)7.8%17.9%0.3523.3%
Real Estate (VNQ)5.5%20.7%0.2362.4%
Bitcoin (BTCUSD)66.7%66.9%1.0619.4%

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Short Interest

Short Interest: As Of Date4302026
Short Interest: Shares Quantity10.5 Mil
Short Interest: % Change Since 4152026-5.3%
Average Daily Volume1.3 Mil
Days-to-Cover Short Interest8.3 days
Basic Shares Quantity188.4 Mil
Short % of Basic Shares5.6%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/27/2026-3.9%-0.8%-6.4%
11/7/20251.8%1.6%-2.5%
8/6/2025-0.1%2.6%9.5%
5/6/2025-3.3%6.9%1.4%
2/21/2025-5.8%-7.4%-13.9%
11/12/2024-3.5%-7.7%12.3%
8/7/2024-2.1%1.2%2.7%
5/6/20241.7%0.7%0.0%
...
SUMMARY STATS   
# Positive101314
# Negative141110
Median Positive2.3%2.6%3.1%
Median Negative-3.0%-6.7%-4.4%
Max Positive4.9%15.8%32.0%
Max Negative-7.3%-15.3%-13.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/05/202610-Q
12/31/202502/27/202610-K
09/30/202511/07/202510-Q
06/30/202508/06/202510-Q
03/31/202505/06/202510-Q
12/31/202402/21/202510-K
09/30/202411/12/202410-Q
06/30/202408/07/202410-Q
03/31/202405/06/202410-Q
12/31/202302/23/202410-K
09/30/202311/07/202310-Q
06/30/202308/04/202310-Q
03/31/202305/05/202310-Q
12/31/202202/23/202310-K
09/30/202211/08/202210-Q
06/30/202208/03/202210-Q

Recent Forward Guidance [BETA]

Latest: Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Net Income34.00 Mil41.00 Mil48.00 Mil22.4% RaisedGuidance: 33.50 Mil for 2026
2026 EPS0.110.140.18  Higher New
2026 RevPAR Growth5.0%6.25%7.5%13.6%0.8%RaisedGuidance: 5.5% for 2026
2026 Total RevPAR Growth5.0%6.25%7.5%25.0%1.2%RaisedGuidance: 5.0% for 2026
2026 Adjusted EBITDAre238.00 Mil245.00 Mil252.00 Mil3.2% RaisedGuidance: 237.50 Mil for 2026
2026 Capital Expenditures95.00 Mil105.00 Mil115.00 Mil0 AffirmedGuidance: 105.00 Mil for 2026

Prior: Q4 2025 Earnings Reported 2/27/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Net Income21.00 Mil33.50 Mil46.00 Mil62.6% Higher NewActual: 20.60 Mil for 2025
2026 Adjusted EBITDAre225.00 Mil237.50 Mil250.00 Mil1.9% Higher NewActual: 233.00 Mil for 2025
2026 Adjusted FFO Attributable to Common Stockholders153.00 Mil165.50 Mil178.00 Mil1.5% Higher NewActual: 163.00 Mil for 2025
2026 Adjusted FFO Attributable to Common Stockholders per Diluted Share0.810.880.944.8% Higher NewActual: 0.83 for 2025
2026 Capital Expenditures95.00 Mil105.00 Mil115.00 Mil   

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