Sunstone Hotel: Q1 Earnings Snapshot

ALISO VIEJO, Calif. (AP) — ALISO VIEJO, Calif. (AP) — Sunstone Hotel Investors Inc. (SHO) on Friday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.

The Aliso Viejo, California-based real estate investment trust said it had funds from operations of $43.8 million, or 21 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 17 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.