Sunstone Hotel Investors, Inc.
SHO, SHO-PH, SHO-PI · Hotels & Motels · 186.3M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $46M (gross $56M, SBC $11M)
Reference price $11.62 · est. market cap ~$2.2B — last insider sale, 2026-06-24 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B72Upper-upscale/luxury hotel REIT with above-average RevPAR-driven growth, solid operating cash margin and conservative leverage.
Strengths
- Revenue growth ~6% (83rd pct) and OCF margin 18.9% (74th pct) on a high-quality, well-located portfolio
- Low leverage (D/E 0.47, 31st pct), ~$186M total cash and an undrawn $500M facility provide flexibility
Risks
- Lodging cyclicality, geographic concentration and exposure to softer government/leisure (Maui, DC) demand
- Renovation displacement and an asset sold at a loss in 2025 weigh on near-term results
Notable findings
- Restatement In September 2025, we entered into the Third Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which expanded our unsecured debt borrowing capacity and extended the maturity 8-K ↗
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $109M cash & investments
- Insider sellingInsider selling — 1 open-market sale(s) by 1 insider(s) (~$1M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
2.6%
Return on equity
1.3%
Return on assets
0.8%
Revenue growth (QoQ)
9.6%
Net-income growth
-43.2%
Debt / equity
0.5×
Tangible book value
$1.9B
Cash & investments
$109M
Stock comp / revenue
0.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-24 | Springer Robert C | Sell | 90K | $11.62 |
| 2026-05-01 | Mims Verett Ann | Grant | 12K | — |
| 2026-05-01 | Mims Verett Ann | Grant | 8.5K | — |
| 2026-05-01 | Digilio Monica S | Grant | 12K | — |
| 2026-05-01 | Digilio Monica S | Grant | 11K | — |
| 2026-05-01 | McCabe Murray J. | Grant | 12K | — |
| 2026-05-01 | McCabe Murray J. | Grant | 8.5K | — |
| 2026-05-01 | Leslie Kristina M | Grant | 12K | — |
| 2026-05-01 | Leslie Kristina M | Grant | 11K | — |
| 2026-05-01 | BARNELLO MICHAEL D | Grant | 12K | — |
| 2026-05-01 | BARNELLO MICHAEL D | Grant | 8.5K | — |
| 2026-05-01 | BAIRD W BLAKE | Grant | 12K | — |
| 2026-05-01 | BAIRD W BLAKE | Grant | 11K | — |
| 2026-05-01 | PASQUALE DOUGLAS M | Grant | 19K | — |
| 2026-05-01 | PASQUALE DOUGLAS M | Grant | 15K | — |
| 2026-05-01 | BATINOVICH ANDREW | Grant | 12K | — |
| 2026-05-01 | BATINOVICH ANDREW | Grant | 9.6K | — |
| 2026-03-07 | Giglia Bryan Albert | Tax withheld | 3.4K | $9.38 |
| 2026-03-07 | Springer Robert C | Tax withheld | 3.4K | $9.38 |
| 2026-02-15 | Reyes Aaron Robert | Tax withheld | 12K | $9.22 |
| 2026-02-15 | Klein David M | Tax withheld | 9.1K | $9.22 |
| 2026-02-15 | Giglia Bryan Albert | Tax withheld | 31K | $9.22 |
| 2026-02-15 | Springer Robert C | Tax withheld | 23K | $9.22 |
| 2026-02-11 | Reyes Aaron Robert | Grant | 36K | — |
| 2026-02-11 | Klein David M | Grant | 21K | — |
| 2026-02-11 | Giglia Bryan Albert | Grant | 83K | — |
| 2026-02-11 | Springer Robert C | Grant | 52K | — |
| 2026-01-26 | Reyes Aaron Robert | Grant | 51K | — |
| 2026-01-26 | Reyes Aaron Robert | Tax withheld | 28K | $9.03 |
| 2026-01-26 | Klein David M | Grant | 48K | — |
| 2026-01-26 | Klein David M | Tax withheld | 27K | $9.03 |
| 2026-01-26 | Giglia Bryan Albert | Grant | 142K | — |
| 2026-01-26 | Giglia Bryan Albert | Tax withheld | 77K | $9.03 |
| 2026-01-26 | Springer Robert C | Grant | 111K | — |
| 2026-01-26 | Springer Robert C | Tax withheld | 61K | $9.03 |
| 2025-11-21 | BARNELLO MICHAEL D | Grant | 5.7K | — |
| 2025-05-01 | PASQUALE DOUGLAS M | Grant | 21K | — |
| 2025-05-01 | Mims Verett Ann | Grant | 14K | — |
| 2025-05-01 | McCabe Murray J. | Grant | 14K | — |
| 2025-05-01 | Leslie Kristina M | Grant | 14K | — |
| 2025-05-01 | Digilio Monica S | Grant | 14K | — |
| 2025-05-01 | BATINOVICH ANDREW | Grant | 14K | — |
| 2025-05-01 | BAIRD W BLAKE | Grant | 14K | — |
| 2025-03-07 | Giglia Bryan Albert | Tax withheld | 3.4K | $10.56 |
| 2025-03-07 | Springer Robert C | Tax withheld | 3.4K | $10.56 |
| 2025-02-15 | Reyes Aaron Robert | Tax withheld | 13K | $11.20 |
| 2025-02-15 | Giglia Bryan Albert | Tax withheld | 25K | $11.20 |
| 2025-02-15 | Springer Robert C | Tax withheld | 20K | $11.20 |
| 2025-02-15 | Klein David M | Tax withheld | 9.0K | $11.20 |
| 2025-02-10 | Klein David M | Grant | 16K | — |
| 2025-02-10 | Giglia Bryan Albert | Grant | 60K | — |
| 2025-02-10 | Reyes Aaron Robert | Grant | 26K | — |
| 2025-02-10 | Springer Robert C | Grant | 41K | — |
| 2025-01-30 | Springer Robert C | Grant | 121K | — |
| 2025-01-30 | Springer Robert C | Tax withheld | 65K | $11.49 |
| 2025-01-30 | Giglia Bryan Albert | Grant | 142K | — |
| 2025-01-30 | Giglia Bryan Albert | Tax withheld | 77K | $11.49 |
| 2025-01-30 | Klein David M | Grant | 78K | — |
| 2025-01-30 | Klein David M | Tax withheld | 43K | $11.49 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | Reg FDExhibits | filing ↗ |
| 2026-06-01 | Reg FDExhibits | filing ↗ |
| 2026-05-05 | ResultsExec/director changeShareholder voteExhibits | filing ↗ |
| 2026-02-27 | ResultsExhibits | filing ↗ |
| 2025-11-17 | Exec/director changeExhibits | filing ↗ |
| 2025-11-07 | ResultsExhibits | filing ↗ |
| 2025-09-26 | Material agreementDebt obligationReg FDExhibits | filing ↗ |
| 2025-08-06 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-23 | 0001104659-26-076640 ↗ |
| 8-K | 2026-06-01 | 2026-06-01 | 0001104659-26-068568 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001104659-26-055508 ↗ |
| 8-K | 2026-05-05 | 2026-05-01 | 0001104659-26-055280 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001104659-26-021440 ↗ |
| 8-K | 2026-02-27 | 2026-02-27 | 0001104659-26-020996 ↗ |
| 8-K | 2025-11-17 | 2025-11-15 | 0001193125-25-283930 ↗ |
| 10-Q | 2025-11-07 | 2025-09-30 | 0001104659-25-108317 ↗ |
| 8-K | 2025-11-07 | 2025-11-07 | 0001104659-25-108138 ↗ |
| 8-K | 2025-09-26 | 2025-09-24 | 0001104659-25-093887 ↗ |
| 8-K | 2025-08-06 | 2025-08-06 | 0001558370-25-010406 ↗ |
| 10-Q | 2025-08-06 | 2025-06-30 | 0001558370-25-010475 ↗ |