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AI brief of an SEC Form 8-K · Sunstone Hotel Investors (SHO)

Sunstone Hotel Investors Q4 net income rose to $127.0 million on hotel sale gain

Mixed Impact 4 of 5 earnings Written later

Sunstone Hotel Investors reported fourth quarter 2023 net income of $127.0 million, up from $17.5 million, mainly due to the $123.8 million gain on the sale of Boston Park Plaza. Excluding that gain, fourth quarter net income would have been $3.2 million, and Adjusted EBITDA re excluding noncontrolling interest fell 20.5% to $54.6 million. For full year 2023, net income was $206.7 million and Adjusted FFO per diluted share rose 9.2% to $0.95, while the company's 2024 guidance projects Adjusted FFO per diluted share of $0.78 to $0.90.

Key points

  • Q4 2023 Adjusted FFO per diluted share was $0.19, down 26.9% from $0.26 a year earlier
  • Comparable RevPAR fell 2.2% to $206.58 in Q4 2023; full year comparable RevPAR rose 5.6% to $226.56
  • 2024 guidance: net income of $46 million to $71 million and Adjusted EBITDA re of $230 million to $255 million
  • The company repurchased 5,971,192 shares in 2023 at an average price of $9.43, with $454.7 million remaining under its authorization

The filing

CompanySunstone Hotel Investors (SHO)
Form8-K, current report
Filed with the SECFeb 23, 2024, 7:40 AM ET
Accession number0001558370-24-001578

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 23, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.