IRVINE, Calif., Dec. 10, 2019 /PRNewswire/ -- Sunstone Hotel
Investors, Inc. (the "Company" or "Sunstone") (NYSE: SHO), the
owner of Long-Term Relevant Real Estate® in the hospitality sector,
today announced that its Board of Directors has declared a fourth
quarter dividend of $0.57 per share
of common stock. The fourth quarter dividend includes the
taxable gain generated from the sale of the leasehold interest in
the Courtyard by Marriott Los
Angeles in October 2019. The
dividend will be paid in cash on January 15,
2020 to holders of record as of December 31, 2019. The fourth quarter
dividend, together with the dividends paid in the first three
quarters of 2019, represent an annual yield of 5.1% based on the
closing stock price as of December 9,
2019.
About Sunstone Hotel Investors, Inc.
Sunstone Hotel Investors, Inc. is a real estate investment trust
("REIT") that invests in Long-Term Relevant Real Estate® within the
hospitality sector. Sunstone's hotels are primarily in the
urban and resort upper upscale segment and are predominantly
operated under nationally recognized brands such as Marriott,
Hilton and Hyatt. For further information, please visit Sunstone's
website at www.sunstonehotels.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "plan," "predict,"
"project," "should," "will" and other similar terms and phrases,
including opinions, references to assumptions and forecasts of
future results. Forward-looking statements are not guarantees of
future performance and involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to differ materially from those anticipated at the time the
forward-looking statements are made. These risks include, but are
not limited to: volatility in the debt or equity markets affecting
our ability to acquire or sell hotel assets; international,
national and local economic and business conditions, including the
likelihood of a U.S. recession, government shutdown, changes in the
European Union or global economic slowdown, as well as any type of
flu, disease-related pandemic or the adverse effects of climate
change, affecting the lodging and travel industry; the ability to
maintain sufficient liquidity and our access to capital markets;
terrorist attacks or civil unrest, which would affect occupancy
rates at our hotels and the demand for hotel products and services;
operating risks associated with the hotel business; risks
associated with the level of our indebtedness and our ability to
meet covenants in our debt and equity agreements; relationships
with property managers and franchisors; our ability to maintain our
properties in a first-class manner, including meeting capital
expenditure requirements; our ability to compete effectively in
areas such as access, location, quality of accommodations and room
rate structures; changes in travel patterns, taxes and government
regulations, which influence or determine wages, prices,
construction procedures and costs; our ability to identify,
successfully compete for and complete acquisitions; the performance
of hotels after they are acquired; necessary capital expenditures
and our ability to fund them and complete them with minimum
disruption; our ability to continue to satisfy complex rules in
order for us to qualify as a REIT for federal income tax purposes;
severe weather events or other natural disasters; risks impacting
our ability to pay anticipated future dividends; and other risks
and uncertainties associated with our business described in the
Company's filings with the Securities and Exchange Commission.
Although the Company believes the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
it can give no assurance that the expectations will be attained or
that any deviation will not be material. All forward-looking
information provided herein is as of the date of this release, and
the Company undertakes no obligation to update any forward-looking
statement to conform the statement to actual results or changes in
the Company's expectations.
This release should be read together with the consolidated
financial statements and notes thereto included in our most recent
reports on Form 10-K and Form 10-Q. Copies of these reports are
available on our website at www.sunstonehotels.com and through the
SEC's Electronic Data Gathering Analysis and Retrieval System
("EDGAR") at www.sec.gov.
For Additional Information:
Bryan Giglia
Sunstone Hotel Investors, Inc.
(949) 382-3036
Aaron Reyes
Sunstone Hotel Investors, Inc.
(949) 382-3018
View original
content:http://www.prnewswire.com/news-releases/sunstone-hotel-investors-declares-fourth-quarter-dividend-on-common-stock-300971779.html
SOURCE Sunstone Hotel Investors, Inc.