NNN REIT, Inc. (NNN) vs Sunstone Hotel Investors, Inc. (SHO)
A side-by-side comparison of NNN REIT, Inc. and Sunstone Hotel Investors, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — NNN vs SHO
growth of $100 · dividends reinvested · last 10yNNN vs SHO: by the numbers
- •NNN is the larger company ($7.90B vs $2.06B market cap).
- •NNN converts more revenue to profit (40.35% vs 5.30% net margin).
- •SHO grew revenue faster over the past five years (33.78% vs 6.97% CAGR).
- •NNN pays the higher dividend yield (5.52% vs 3.28%).
Metrics side by side
Valuation
| Metric | NNN | SHO |
|---|---|---|
| P/E ratio | 20.37 | 44.82 |
| Forward P/E | 20.23 | 37.23 |
| P/S ratio | 8.29 | 2.05 |
| P/B ratio | 1.77 | 1.09 |
| EV / EBITDA | 14.85 | 12.95 |
| FCF yield | 3.08% | 5.63% |
For REITs like NNN REIT, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Sunstone Hotel Investors, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | NNN | SHO |
|---|---|---|
| Gross margin | 38.00% | 4.75% |
| Operating margin | 62.03% | 9.03% |
| Net margin | 40.35% | 5.30% |
| ROE | 8.62% | 2.82% |
| ROIC | 6.18% | 2.97% |
Dividends
| Metric | NNN | SHO |
|---|---|---|
| Dividend yield | 5.52% | 3.28% |
| Payout ratio | 118.63% | 146.16% |
NNN REIT, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Sunstone Hotel Investors, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | NNN | SHO |
|---|---|---|
| Revenue CAGR (5Y) | 6.97% | 33.78% |
| EPS CAGR (5Y) | 11.15% | N/A |
| FCF CAGR (5Y) | 8.18% | N/A |
| Total return CAGR (5Y) | 4.80% | 1.06% |
Frequently asked
- Which has grown faster, NNN or SHO?
- Over the past five years, SHO grew revenue faster — NNN at a 6.97% CAGR versus SHO at 33.78%.
- Does NNN or SHO pay a bigger dividend?
- NNN yields 5.52% and SHO yields 3.28% based on trailing dividends and the latest price.
- Is NNN or SHO more profitable?
- NNN runs the higher net margin — NNN at 40.35% versus SHO at 5.30%.
- How have NNN and SHO total returns compared?
- Over the past 10 years, NNN delivered 3.99% and SHO delivered 1.62% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
NNN REIT & Sunstone Hotel Investors appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.