PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sun, August 14, 9:04 PM
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Slide #34. Sunstone Hotel Investors, Inc. — Preferred Stock Offering
Company:
Sunstone Hotel Investors, Inc. (NYSE:SHO)
Date announced:
7/13/2021
Shares Offered:
4,000,000
Date of Pricing:
7/13/2021
Price Per Share:
$25.00
Preferred Stock Offering Details:
Sunstone Hotel Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO), the owner of Long-Term Relevant Real Estate in the hospitality sector, announced that it has priced an underwritten public offering of 4,000,000 shares of its 5.70% Series I Cumulative Redeemable Preferred Stock (the "Series I Preferred Stock") for gross proceeds of $100 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 (1.70 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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