Sunstone Hotel Investors Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Sunstone Hotel Investors Inc reported revenue of $960.1M (+6.0% year on year) and net income of $24.6M (-43.2% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenues | $960.1M | $905.8M | $986.5M | $912.1M |
| Cost of goods and services sold | $383.5M | $352.5M | $375.5M | $342.8M |
| Advertising and promotion | $54.3M | $52.2M | $52.0M | $47.0M |
| Repairs and maintenance | $39.7M | $35.9M | $38.3M | $36.8M |
| Utilities | $28.5M | $26.6M | $27.6M | $26.4M |
| Franchise costs | $18.5M | $18.4M | $16.9M | $15.8M |
| Property tax, ground lease and insurance | $76.5M | $77.2M | $78.8M | $69.0M |
| Other property-level expenses | $117.3M | $110.8M | $120.2M | $113.3M |
| Corporate overhead | $31.6M | $29.1M | $31.4M | $35.2M |
| Depreciation and amortization | $134.5M | $124.5M | $127.1M | $126.4M |
| Total operating expenses | $884.4M | $827.2M | $867.8M | $816.2M |
| Interest and other income | $11.0M | $13.2M | $10.5M | $5.2M |
| Interest expense | ($53.0M) | ($50.1M) | ($51.7M) | ($32.0M) |
| (Loss) gain on sale of assets, net | ($8.8M) | $457.0K | $123.8M | $22.9M |
| (Loss) gain on extinguishment of debt | ($180.0K) | $59.0K | $9.9M | ($936.0K) |
| Income before income taxes | $24.8M | $42.2M | $211.3M | $91.1M |
| Income tax (provision) benefit , net | ($216.0K) | — | ($4.6M) | ($359.0K) |
| Net Income | $24.6M | $43.3M | $206.7M | $90.8M |
| Preferred stock dividends, net of gain on repurchases | ($16.1M) | — | ($14.0M) | ($14.2M) |
| Income attributable to common stockholders | $8.5M | $28.0M | $192.7M | $73.0M |
| Basic income attributable to common stockholders per common share (in dollars per share) | $0.04 | $0.14 | $0.93 | $0.34 |
| Diluted income attributable to common stockholders per common share (in dollars per share) | $0.04 | $0.14 | $0.93 | $0.34 |
| Basic weighted average common shares outstanding (in shares) | 193.6M | 201.7M | 205.6M | 212.6M |
| Diluted weighted average common shares outstanding (in shares) | 194.3M | 202.6M | 205.9M | 212.7M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total revenues | $277.1M | $259.7M | $229.3M | $259.8M |
| Cost of goods and services sold | $105.2M | $100.0M | $94.4M | $100.4M |
| Advertising and promotion | $14.6M | $13.7M | $13.4M | $14.2M |
| Repairs and maintenance | $10.3M | $11.7M | $10.0M | $9.9M |
| Utilities | $7.3M | $7.1M | $7.8M | $7.1M |
| Franchise costs | $5.0M | $4.6M | $4.5M | $4.8M |
| Property tax, ground lease and insurance | $21.1M | $20.5M | $19.6M | $19.0M |
| Other property-level expenses | $34.9M | $32.8M | $26.9M | $31.5M |
| Corporate overhead | $8.8M | $6.8M | $7.0M | $8.3M |
| Depreciation and amortization | $34.3M | $34.2M | $33.9M | $34.1M |
| Impairment and other losses | $1.6M | — | — | — |
| Total operating expenses | $242.9M | $231.3M | $217.4M | $229.3M |
| Interest and other income | $3.8M | $1.5M | $3.2M | $2.3M |
| Interest expense | ($11.8M) | ($11.3M) | ($13.4M) | ($13.2M) |
| Income before income taxes | $26.2M | $18.7M | $1.5M | $10.8M |
| Income tax provision, net | ($187.0K) | ($122.0K) | ($137.0K) | ($37.0K) |
| Net Income | $26.0M | $18.6M | $1.3M | $10.8M |
| Preferred stock dividends, net of gain on repurchases | ($46.0K) | ($2.6M) | — | — |
| Net income attributable to common stockholders | $26.0M | $16.0M | ($2.9M) | $6.8M |
| Basic net income attributable to common stockholders per common share (in dollars per share) | $0.14 | $0.08 | -$0.02 | $0.03 |
| Diluted net income attributable to common stockholders per common share (in dollars per share) | $0.14 | $0.08 | -$0.02 | $0.03 |
| Basic weighted average common shares outstanding (in shares) | 185.3M | 188.4M | 189.3M | 195.8M |
| Diluted weighted average common shares outstanding (in shares) | 185.6M | 188.7M | 189.3M | 196.3M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Investment in hotel properties, net | $2.8B | $2.9B | $2.6B | $2.8B |
| Operating lease right-of-use assets, net | $4.4M | $8.5M | $12.8M | $15.0M |
| Cash and cash equivalents | $109.2M | $107.2M | $426.4M | $101.2M |
| Restricted Cash | $76.5M | $73.1M | $67.3M | $56.0M |
| Accounts receivable, net | $33.7M | $34.1M | $31.2M | $42.1M |
| Prepaid expenses and other assets, net | $34.0M | $27.8M | $26.4M | — |
| Total assets | $3.0B | $3.1B | $3.1B | $3.1B |
| Debt, net of unamortized deferred financing costs | $918.1M | $841.0M | $814.6M | — |
| Operating lease obligations | $7.3M | $12.0M | $16.7M | — |
| Accounts payable and accrued expenses | $63.1M | $52.7M | $48.4M | $56.8M |
| Dividends and distributions payable | $23.0M | $24.1M | $30.0M | $14.0M |
| Other Liabilities | $72.8M | $72.7M | $73.0M | $12.0M |
| Total liabilities | $1.1B | $1.0B | $982.7M | $997.9M |
| Cumulative Redeemable Preferred Stock | $279.7M | $281.3M | $281.3M | $281.3M |
| Common stock, $0.01 par value, 500,000,000 shares authorized, 189,709,516 shares issued and outstanding at December 31, 2025 and 200,824,993 shares issued and outstanding at December 31, 2024 | 1.9M | 2.0M | 2.0M | 2.1M |
| Additional paid in capital | $2.3B | $2.4B | $2.4B | $2.5B |
| Distributions in excess of retained earnings | ($635.3M) | ($574.9M) | ($533.1M) | — |
| Total stockholders' equity | $1.9B | $2.1B | $2.2B | $2.1B |
| Total equity | $1.9B | $2.1B | $2.2B | $2.1B |
| Total liabilities and stockholders' equity | $3.0B | $3.1B | $3.1B | $3.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Investment in hotel properties, net | $2.5B | $2.8B | $2.8B | $2.8B |
| Operating lease right-of-use assets, net | $4.0M | $4.1M | $5.5M | $6.6M |
| Cash and cash equivalents | $94.4M | $91.1M | $121.1M | $73.6M |
| Restricted cash | $109.3M | $75.5M | $76.4M | $71.4M |
| Accounts receivable, net | $50.8M | $45.4M | $29.4M | $42.8M |
| Prepaid expenses and other assets, net | $35.6M | $40.6M | $37.9M | $28.2M |
| Assets held for sale, net | $239.2M | — | — | — |
| Total assets | $3.0B | $3.0B | $3.0B | $3.0B |
| Debt, net of unamortized deferred financing costs | $968.4M | $942.7M | $917.5M | $868.7M |
| Operating lease obligations | $6.5M | $6.8M | $8.6M | $9.8M |
| Accounts payable and accrued expenses | $53.6M | $52.5M | $63.9M | $56.7M |
| Dividends and distributions payable | $21.9M | $21.3M | $22.1M | $22.3M |
| Other liabilities | $103.6M | $82.5M | $77.9M | $73.4M |
| Liabilities of assets held for sale | $48.0K | — | — | — |
| Total liabilities | $1.2B | $1.1B | $1.1B | $1.0B |
| Cumulative Redeemable Preferred Stock | $245.1M | $270.5M | $281.3M | $281.3M |
| Common stock, $0.01 par value, 500,000,000 shares authorized, 185,944,329 shares issued and outstanding at June 30, 2026 and 189,709,516 shares issued and outstanding at December 31, 2025 | 1.9M | 1.9M | 1.9M | 1.9M |
| Additional paid in capital | $2.3B | $2.3B | $2.3B | $2.3B |
| Distributions in excess of retained earnings | ($627.0M) | ($636.3M) | ($621.6M) | ($601.4M) |
| Total stockholders' equity | $1.9B | $1.9B | $2.0B | $2.0B |
| Total liabilities and stockholders' equity | $3.0B | $3.0B | $3.0B | $3.0B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $24.6M | $43.3M | $206.7M | $90.8M |
| Bad debt expense | $445.0K | $474.0K | $372.0K | $964.0K |
| Loss (gain) on sale of assets, net | $8.8M | ($457.0K) | ($123.8M) | ($22.9M) |
| Loss (gain) on extinguishment of debt | $180.0K | ($59.0K) | ($9.9M) | $936.0K |
| Noncash interest on derivatives, net | $878.0K | ($540.0K) | $252.0K | — |
| Depreciation | $133.0M | $123.2M | $126.5M | $125.8M |
| Amortization of franchise fees and other intangibles | $1.5M | $1.4M | $464.0K | $492.0K |
| Amortization of deferred financing costs | $3.8M | $3.0M | $2.7M | $2.5M |
| Amortization of deferred stock compensation | $8.7M | $10.5M | $10.8M | $10.9M |
| Gain on insurance recoveries, net | ($1.1M) | ($430.0K) | ($3.7M) | ($4.4M) |
| Accounts receivable, net | $2.0K | ($171.0K) | $10.6M | ($12.7M) |
| Prepaid expenses and other assets | ($754.0K) | ($2.6M) | ($1.9M) | $4.5M |
| Accounts payable and other liabilities | $2.4M | ($6.7M) | ($20.8M) | $11.1M |
| Operating lease right-of-use assets and obligations | ($625.0K) | ($425.0K) | ($102.0K) | ($1.4M) |
| Net cash provided by operating activities | $181.8M | $170.4M | $198.1M | $209.4M |
| Proceeds from sales of assets | $46.3M | — | $364.5M | $191.3M |
| Acquisitions of hotel properties and other assets | ($1.3M) | ($229.3M) | — | ($232.5M) |
| Acquisition-related key money proceeds | $8.0M | — | — | — |
| Proceeds from property insurance | $1.2M | $430.0K | $3.7M | $4.4M |
| Renovations and additions to hotel properties and other assets | ($103.0M) | ($157.4M) | ($110.1M) | ($128.6M) |
| Net cash (used in) provided by investing activities | ($48.8M) | ($386.3M) | $258.1M | ($165.7M) |
| Repurchases of common stock | ($102.6M) | ($27.2M) | ($56.4M) | ($108.4M) |
| Repurchases of common stock for employee tax obligations | ($4.3M) | ($4.2M) | ($3.3M) | ($3.4M) |
| Repurchases of preferred stock | ($1.3M) | — | — | — |
| Proceeds from credit facility | $50.0M | — | — | $230.0M |
| Payments on credit facility | ($50.0M) | $0 | $0 | ($230.0M) |
| Proceeds from notes payable | $149.6M | $100.0M | $225.0M | $243.6M |
| Payments on notes payable | ($64.6M) | ($74.0M) | ($222.1M) | ($38.9M) |
| Payments of deferred financing costs | ($18.0M) | ($1.1M) | ($2.3M) | ($7.4M) |
| Dividends and distributions paid | ($86.4M) | ($91.0M) | ($59.8M) | ($24.8M) |
| Net cash used in financing activities | ($127.5M) | ($97.5M) | ($119.7M) | ($49.2M) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $5.4M | ($313.4M) | $336.5M | ($5.5M) |
| Cash and cash equivalents and restricted cash, beginning of year | $180.3M | $493.7M | $157.2M | $162.7M |
| Cash and cash equivalents and restricted cash, end of year | $185.7M | — | — | $157.2M |
| Cash and cash equivalents | $109.2M | $107.2M | $426.4M | $101.2M |
| Restricted cash | $76.5M | $73.1M | $67.3M | $56.0M |
| Total cash and cash equivalents and restricted cash shown on the consolidated statements of cash flows | $185.7M | $180.3M | $493.7M | $157.2M |
| Cash paid for interest, net of capitalized interest | $48.8M | $48.9M | $49.3M | $31.7M |
| Cash (refunded) paid for income taxes, net | ($1.4M) | $3.1M | $1.7M | $709.0K |
| Changes in operating lease right-of-use assets | $4.9M | $4.6M | $4.4M | $3.8M |
| Changes in operating lease obligations | ($5.5M) | ($5.0M) | ($4.5M) | ($5.2M) |
| Changes in operating lease right-of-use assets and lease obligations, net | ($625.0K) | ($425.0K) | ($102.0K) | ($1.4M) |
| Accrued renovations and additions to hotel properties and other assets | $24.1M | $16.7M | $9.8M | $9.6M |
| Gain on repurchases of preferred stock | $306.0K | — | — | — |
| Operating lease right-of-use assets obtained in exchange for operating lease obligations | $852.0K | $308.0K | $2.2M | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $44.6M | $18.6M | $17.4M | $16.0M |
| Bad debt expense | $555.0K | $336.0K | $330.0K | $229.0K |
| Noncash interest on derivatives, net | ($4.1M) | ($2.1M) | $668.0K | $1.2M |
| Depreciation | $67.7M | $33.8M | $99.2M | $65.6M |
| Amortization of franchise fees and other intangibles | $758.0K | $379.0K | $1.1M | $761.0K |
| Amortization of deferred financing costs | $2.1M | $1.0M | $2.8M | $1.8M |
| Amortization of deferred stock compensation | $5.4M | $1.9M | $6.7M | $4.8M |
| Impairment and other losses | $1.6M | — | — | — |
| Gain on insurance recoveries | ($2.6M) | ($143.0K) | ($773.0K) | ($99.0K) |
| Accounts receivable, net | ($15.3M) | ($12.0M) | $4.3M | ($8.9M) |
| Prepaid expenses and other assets | ($160.0K) | ($6.5M) | ($4.0M) | ($1.8M) |
| Accounts payable and other liabilities | $7.3M | $10.4M | $8.9M | $2.7M |
| Operating lease right-of-use assets and obligations | ($442.0K) | ($217.0K) | ($458.0K) | ($300.0K) |
| Net cash provided by operating activities | $107.4M | $45.4M | $145.1M | $90.8M |
| Disposition deposit | $25.0M | — | — | — |
| Acquisition-related key money proceeds | $4.0M | $4.0M | $4.0M | $4.0M |
| Proceeds from property insurance | $207.0K | $116.0K | $875.0K | $99.0K |
| Renovations and additions to hotel properties and other assets | ($53.4M) | ($31.0M) | ($73.7M) | ($56.0M) |
| Net cash used in investing activities | ($24.2M) | ($26.9M) | ($23.7M) | ($5.6M) |
| Repurchases of common stock | ($40.6M) | ($29.1M) | ($100.7M) | ($98.5M) |
| Repurchases of common stock for employee tax obligations | ($3.7M) | ($3.2M) | ($4.3M) | ($4.3M) |
| Repurchases of preferred stock | ($28.2M) | ($7.3M) | — | — |
| Proceeds from credit facility | $25.0M | — | $50.0M | $27.0M |
| Proceeds from term loans | $90.0M | $90.0M | $149.6M | — |
| Payments on senior notes | ($65.0M) | ($65.0M) | ($64.6M) | — |
| Payment of securities registration costs | ($249.0K) | ($240.0K) | — | — |
| Dividends and distributions paid | ($42.6M) | ($22.7M) | ($66.1M) | ($44.3M) |
| Net cash used in financing activities | ($65.3M) | ($37.6M) | ($104.1M) | ($120.5M) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $18.0M | ($19.0M) | $17.3M | ($35.4M) |
| Cash and cash equivalents and restricted cash, beginning of period | $185.7M | $185.7M | $180.3M | $180.3M |
| Cash and cash equivalents and restricted cash, end of period | $203.7M | $166.7M | $197.6M | $144.9M |
| Cash and cash equivalents | $94.4M | $91.1M | $121.1M | $73.6M |
| Restricted cash | $109.3M | $75.5M | $76.4M | $71.4M |
| Total cash and cash equivalents and restricted cash shown on the consolidated statements of cash flows | $203.7M | $166.7M | $197.6M | $144.9M |
| Cash paid for interest, net of capitalized interest | $26.7M | $15.2M | $38.3M | $23.0M |
| Cash paid (refunded) for income taxes, net | $143.0K | $70.0K | ($1.2M) | ($23.0K) |
| Changes in operating lease right-of-use assets | $642.0K | $320.0K | $3.6M | $2.4M |
| Changes in operating lease obligations | ($1.1M) | ($537.0K) | ($4.1M) | ($2.7M) |
| Changes in operating lease right-of-use assets and lease obligations, net | ($442.0K) | ($217.0K) | ($458.0K) | ($300.0K) |
| Accrued renovations and additions to hotel properties and other assets | $13.7M | $13.2M | $23.4M | $18.0M |
| Gain on repurchases of preferred stock | $6.3M | $1.8M | — | — |
| Operating lease right-of-use asset obtained in exchange for operating lease obligation | $261.0K | — | $649.0K | $521.0K |
| Amortization of deferred stock compensation - construction activities | $308.0K | $149.0K | $526.0K | $349.0K |
| Dividends and distributions payable | $21.9M | $21.3M | $22.1M | $22.3M |
| Insurance receivable related to property damage | $2.4M | — | — | — |
Sunstone Hotel Investors Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.