Light Turns Red on Sunstone Hotel Investors
Sunstone suspended their dividend on Friday the 13th. The news isn't really scary considering several other hospitality REITs have made the same decision. Like the other Hotel REITs, Sunstone states, "we believe we have sufficient cash reserves, the decision not to pay a first-quarter common dividend was made after considering the highly uncertain economic environment."
For the short-term investors should expect more dividend modifications.
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Feb.15.2009. 22:01
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