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Sunstone Hotel Investors Inc | 5.70% Series I Cumulative Preferred Stock (SHO.PRI)
Prospectus excerpt: We are offering 4,000,000 shares of our 5.70% Series I Cumulative Redeemable Preferred Stock, par value $0.01 per share, which we refer to in this prospectus supplement as our series I preferred. We will pay cumulative dividends on our series I preferred in the amount of $1.4250 per share each year, which is equivalent to 5.70% of the $25.00 liquidation preference per share. Dividends on our series I 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 October 15, 2021. Our series I preferred is not subject to any sinking fund. Upon liquidation, dissolution or winding up, our series I preferred will rank senior to our common stock, par value $0.01 per share (the “common stock”), with respect to the payment of distributions. Full Prospectus PDF », Secondary Prospectus PDF », SHO Page »
Series: | I | Alternate symbology: | SHO-I, SHO-PI, SHOprI | Redeemable?: | Yes | Call Date: | 7/16/2026 | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 4,000,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $19.75 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-5.25 (-21.00%) | Annualized Dividend: | 1.425 | Recent Ex-Date: | 3/27/2024 | Current Yield: | 7.22% | Original Coupon: | 5.70% | Pay Period: | Quarterly | Pay Dates: | 15-Jan, 15-Apr, 15-Jul, 15-Oct | CDx3 Compliance Rating: |
Learn SHO.PRI's Rating
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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 Open the SHO Information Page »
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Name: |
Sunstone Hotel Investors Inc |
Website: |
www.sunstonehotels.com |
Sector: |
REITs |
Number of ETFs Holding SHO: |
53 (see which ones) |
Total Market Value Held by ETFs: |
$588,287,613.88 |
Total Market Capitalization: |
$2,143,000,000 |
% of Market Cap. Held by ETFs: |
27.45% |
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