PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thu, December 2, 10:49 AM
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Slide #302. Sunstone Hotel Investors, Inc. — Preferred Stock Offering
Company:
Sunstone Hotel Investors, Inc. (NYSE:SHO)
Date announced:
3/4/2016
Shares Offered:
4,600,000
Preferred Stock Offering Details:
Sunstone Hotel Investors, Inc. (NYSE: SHO) (the "Company") announced today that it has priced an underwritten public offering of 4,600,000 shares of its 6.95% Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Shares") for gross proceeds of $115 million.
Sunstone Hotel Investors is a real estate investment trust. Co., through its 100% controlling interest in Sunstone Hotel Partnership, LLC (the Operating Partnership), of which Co. is the sole managing member, and the subsidiaries of the Operating Partnership, including Sunstone Hotel TRS Lessee, Inc. (the TRS Lessee) and its subsidiaries, is engaged in acquiring, owning, asset managing and renovating or repositioning hotel properties, and may also selectively sell hotels. Most of Co.'s hotels are operated under brands such as Marriott, Hilton and Hyatt. Also, Co.'s hotels are operated by third-party managers under long-term management agreements with the TRS Lessee or its subsidiaries.
Preferreds: SHO.PRA, SHO.PRD, SHO.PRE, SHO.PRF
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Avg. Broker Rec.
 
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Hold (2.00 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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