Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wed, April 17, 7:19 PM
This Slide: #78 of 620 |
Slide #78. Sunstone Hotel Investors, Inc. — Preferred Stock Offering
Company:
Sunstone Hotel Investors, Inc. (NYSE:SHO)
Date announced:
5/12/2021
Shares Offered:
4,000,000
Date of Pricing:
5/12/2021
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 6.125% Series H Cumulative Redeemable Preferred Stock (the "Series H Preferred Stock") for gross proceeds of $100 million. The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares solely to cover over-allotments, if any.
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, SHO.PRH, SHO.PRI
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Sell (1.25 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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