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Sunstone Hotels Investors Back for a New Preferred Offering

Lodging REIT Sunstone Hotel Investors (SHO) is back to sell a new issue of preferred shares, just 2 months after their last issue.

The company sold a 6.125% preferred (SHO-H) on 5/11/2021 and the shares have traded extremely strong–as high as $28.30 or so.

The new issue proceeds will be used to redeem the 6.45% SHO-F issue. That issue is off 40 cents this morning.

The preliminary prospectus can be read here.

J was on top of this one.

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