Sunstone Hotel Investors Inc | 6.450% Series F Cumulative Redeemable Preferred Stock (SHO.PRF)
This preferred is marked as having been called.
Prospectus excerpt: We are offering 3,000,000 shares of our 6.450% Series F Cumulative Redeemable Preferred Stock, par value $0.01 per share, which we refer to in this prospectus supplement as our series F preferred. We will pay cumulative dividends on our series F preferred in the amount of $1.6125 per share each year, which is equivalent to 6.450% of the $25.00 liquidation preference per share. Dividends on our series F preferred sold in this offering will be payable quarterly in arrears on the 15th day of each of January, April, July and October of each year, commencing July 15, 2016. Our series F preferred is not subject to any sinking fund. Upon liquidation, dissolution or winding up, our series F preferred will rank senior to our common stock, par value $0.01 per share (the "common stock"), with respect to the payment of distributions.
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.