Sunstone calls 8% series D preferreds for redemption on April 6

New York, March 4 – Sunstone Hotel Investors, Inc. said it will redeem all of its $115 million of 8% series D cumulative redeemable preferred stock on April 6.

Holders will receive the liquidation preference of $25.00 per preferred share plus accrued dividends up to but excluding the redemption date for a total payment of $25.027778 for each preferred.

The previously declared dividend of $0.50 per preferred for the period from Jan. 1 through March 31 will be paid on April 15 to holders of record as of March 31.

The series D preferreds trade on the New York Stock Exchange under the symbol “SHOPRD.”

Funding for the redemption will come from Sunstone’s sale of $115 million of 6.95% cumulative redeemable preferred stock.

Sunstone is an Aliso Viejo, Calif., real estate investment trust specializing in hotels, primarily in the urban, upper upscale segment and are operated under nationally recognized brands.

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