Sunstone Hotel Investors, Inc. (SHO) vs Terreno Realty Corporation (TRNO)
A side-by-side comparison of Sunstone Hotel Investors, Inc. and Terreno Realty Corporation 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 — SHO vs TRNO
growth of $100 · dividends reinvested · last 10ySHO vs TRNO: by the numbers
- •TRNO is the larger company ($6.99B vs $2.06B market cap).
- •TRNO converts more revenue to profit (77.27% vs 5.30% net margin).
- •SHO grew revenue faster over the past five years (33.78% vs 20.25% CAGR).
- •SHO pays the higher dividend yield (3.28% vs 3.19%).
Metrics side by side
Valuation
| Metric | SHO | TRNO |
|---|---|---|
| P/E ratio | 44.82 | 17.67 |
| Forward P/E | 37.23 | 31.16 |
| P/S ratio | 2.05 | 13.90 |
| P/B ratio | 1.09 | 1.58 |
| EV / EBITDA | 12.95 | 23.97 |
| FCF yield | 5.63% | 2.65% |
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.
For REITs like Terreno Realty Corporation, 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 | SHO | TRNO |
|---|---|---|
| Gross margin | 4.75% | 75.84% |
| Operating margin | 9.03% | 41.42% |
| Net margin | 5.30% | 77.27% |
| ROE | 2.82% | 8.77% |
| ROIC | 2.97% | 3.65% |
Dividends
| Metric | SHO | TRNO |
|---|---|---|
| Dividend yield | 3.28% | 3.19% |
| Payout ratio | 146.16% | 55.91% |
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.
Terreno Realty Corporation'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 | SHO | TRNO |
|---|---|---|
| Revenue CAGR (5Y) | 33.78% | 20.25% |
| EPS CAGR (5Y) | N/A | 35.52% |
| FCF CAGR (5Y) | N/A | 18.95% |
| Total return CAGR (5Y) | 1.06% | 2.24% |
Frequently asked
- Which has grown faster, SHO or TRNO?
- Over the past five years, SHO grew revenue faster — SHO at a 33.78% CAGR versus TRNO at 20.25%.
- Does SHO or TRNO pay a bigger dividend?
- SHO yields 3.28% and TRNO yields 3.19% based on trailing dividends and the latest price.
- Is SHO or TRNO more profitable?
- TRNO runs the higher net margin — SHO at 5.30% versus TRNO at 77.27%.
- How have SHO and TRNO total returns compared?
- Over the past 10 years, SHO delivered 1.62% and TRNO delivered 12.30% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Sunstone Hotel Investors & Terreno Realty 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.