-
FelCor to Acquire Two New York Hotels for $140M
Monday, April 4, 2011 - 8:02am | 85FelCor Lodging Trust Incorporated (NYSE: FCH) announces it has entered into a binding purchase and sale agreement to acquire the fee-simple interests in two midtown Manhattan hotels, The Royalton and Morgans, for $140.0 million from Morgans Hotel Group Co. MHGC will continue to manage the...
-
Sunstone Hotel Investors, Inc. Prices Public Offering Preferred Stock
Friday, April 1, 2011 - 9:13am | 62Sunstone Hotel Investors, Inc. (NYSE: SHO) announced today that it has priced an underwritten public offering of 4,000,000 shares of its 8.0% Series D Cumulative Redeemable Preferred Stock for gross proceeds of $100.0 million. The underwriters have been granted a 30-day option to purchase up to...
-
KBW Maintains Outperform on Sunstone Hotel Investors (SHO)
Thursday, March 31, 2011 - 7:26am | 93KBW is out with its report on Sunstone Hotel Investors (NYSE: SHO), maintaining Outperform. In a note to clients, KBW writes, "SHO provided its March business update and expects 1Q same-store RevPAR growth of 5.4%. The company also announced the acquisition of the Hilton San Diego Bayfront Hotel...
-
Mad Money Lightning Round: Cramer Likes EOG Resources, BlackRock (EOG, MWE, ETP, CGC, BLK, TROW, EXR, LLNW)
Thursday, March 31, 2011 - 12:40am | 244On CNBC's Mad Money, Jim Cramer said during the Lightning Round that EOG Resources (NYSE: EOG) is” terrific. I'm a big big buyer of EOG." For MarkWest Energy Partners (NYSE: MWE), Jim said, “It's a pipeline out of Marcellus shale. That company is for real. I can't possibly tell you to sell it. I...
-
Benzinga's Top ETF Decliners, March 30th (DRV, BZQ, CZI, TZA)
Wednesday, March 30, 2011 - 5:56pm | 202Direxion Daily Real Estate Bear 3X (ETF) (NYSE: DRV) fell 4.22% on Wednesday as Vornado Realty Trust (NYSE: VNO) gained 1.88%, and Public Storage (NYSE: PSA) added 1.14%. ProShares Ultrashort MSCI Brazil (NYSE: BZQ) dropped 4.04%, and closed at $14.73. Banco Itau Holding Financeira S.A. (ADR) (...
-
Sunstone Hotel Investors, Inc. Announces Public Offering of Preferred Stock
Wednesday, March 30, 2011 - 9:58am | 64Sunstone Hotel Investors, Inc. (NYSE: SHO) announced today that it intends to issue 3,000,000 shares of its Series D Cumulative Redeemable Preferred Stock. The underwriters will be granted a 30-day option to purchase up to an additional 450,000 Series D Preferred Shares to cover over-allotments, if...
-
Goldman Discusses Sunstone Hotel Investors, Inc. (SHO)
Wednesday, March 30, 2011 - 7:48am | 207Goldman Sachs is out with a research report on Sunstone Hotel Investors, Inc. (NYSE: SHO) after the company made a series of announcements after the bell. It has a Neutral rating on shares. In a note to investors, Goldman writes, "RevPAR for the quarter was below our expectations but the reason...
-
Citi Maintaining Neutral On Sunstone Hotel Investors (SHO)
Wednesday, March 30, 2011 - 7:44am | 274Citi Investment Research is maintaining a Neutral rating and a $11 price target on shares of Sunstone Hotel Investors (NYSE: SHO). In a note to investors, Citi writes, "SHO provided preliminary 1Q REVPAR growth, announced an acquisition, disposition, renovation project and intentions to issue PFD...
-
JP Morgan Comments On Sunstone Hotel Investors Following Mid Quarter Update
Wednesday, March 30, 2011 - 7:42am | 201Yesterday, as part of Sunstone Hotel Investors (NYSE: SHO) midquarter business update, it announced the acquisition of a 75% stake in the Hilton San Diego Bayfront for a total valuation of $475 million as well as the sale of the Royal Palm Miami Beach for $130 million. The company also stated that...
-
Jefferies Has Hold On Sunstone Hotel Investors (SHO)
Wednesday, March 30, 2011 - 7:22am | 171Jefferies & Co. has a Hold rating and a $11 price target on shares of Sunstone Hotel Investors (NYSE: SHO). In a note to clients, Jefferies writes, "On 3/29, after the close, SHO reported preliminary 1Q11 RevPAR results, with 1Q11 RevPAR increasing 5.4% and March RevPAR up 6.2%. More...
-
Sunstone Hotel Investors, Inc. Plans Public Offering of Preferred Stock
Tuesday, March 29, 2011 - 4:16pm | 89Sunstone Hotel Investors, Inc. (NYSE: SHO) announced today that it intends to issue shares of Cumulative Redeemable Preferred Stock subject to market conditions, over the near-term. The Company expects to contribute the net proceeds from the contemplated offering to Sunstone Hotel Partnership,...
-
Sunstone Hotel Investors to Acquire 75% Interest in San Diego Bayfront Hotel JV for $475M
Tuesday, March 29, 2011 - 4:13pm | 127Sunstone Hotel Investors, Inc. (NYSE: SHO) today provided preliminary results for the first quarter as of March 25, 2011. Preliminary March 2011 Comparable Portfolio RevPAR is expected to increase approximately 6.2% from March 2010. Preliminary first quarter 2011 Comparable Portfolio RevPAR is...
-
FelCor Lodging Trust Is Posting High Relative Volume (FCH)
Tuesday, March 29, 2011 - 12:40pm | 49FelCor Lodging Trust (NYSE: FCH) is trading $0.55 lower than yesterday's close, or -8.5%. The next pivot point resistance is located at $5.94. The high volatility could be caused by the public offering for 24 million shares of its common stock at $6.00 per share.
-
FelCor Prices Public Offering of Common Stock at $6.00 per Share
Tuesday, March 29, 2011 - 9:23am | 49FelCor Lodging Trust Incorporated (NYSE: FCH) today announced that it priced its public offering of 24 million shares of its common stock at $6.00 per share. FelCor granted the underwriters a 30-day option to purchase up to 3.6 million additional shares of common stock.
-
Goldman Sachs Comments On FCH Stock Offering
Tuesday, March 29, 2011 - 7:22am | 107Goldman Sachs has published a report regarding Felcor Lodging Trust's (NYSE: FCH) announcement to offer 24 million shares of its common stock. According to Goldman Sachs, "FelCor management has made it clear for some time that it is actively looking to do a deal in New York, preferably in the...