PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, March 31, 3:18 AM
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Slide #327. Sunstone Hotel Investors, Inc — Preferred Stock Offering
Company:
Sunstone Hotel Investors, Inc (NYSE:SHO)
Date announced:
5/10/2016
Shares Offered:
3,000,000
Date of Pricing:
5/10/2016
Price Per Share:
$25.00
Preferred Stock Offering Details:
Sunstone Hotel Investors, Inc. (NYSE: SHO) (the "Company") announced today that it has priced an underwritten public offering of 3,000,000 shares of its 6.45% Series F Cumulative Redeemable Preferred Stock (the "Series F Preferred Shares") for gross proceeds of $75 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 it is the sole managing member, and the subsidiaries of the Operating Partnership, including Sunstone Hotel TRS Lessee, Inc. (the TRS Lessee) and its subsidiaries, engages in acquiring, owning, asset managing and renovating or repositioning hotel properties, and may also selectively sell hotels. All but two (the Boston Park Plaza and the Oceans Edge Resort & Marina) of Co.'s Hotels are operated under various brands. Co.'s portfolio consists of hotels located in primary convention, resort destination and urban markets.
Preferreds: SHO.PRA, SHO.PRD, SHO.PRE, SHO.PRF
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Avg. Broker Rec.
  
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Sell (1.08 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
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