On 11/13/13, Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock (INN.PRA) will trade ex-dividend, for its quarterly dividend of $0.5781, payable on 11/29/13. As a percentage of INN.PRA's recent share price of $26.70, this dividend works out to approximately 2.17%, so look for shares of INN.PRA to trade 2.17% lower — all else being equal — when INN.PRA shares open for trading on 11/13/13. On an annualized basis, the current yield is approximately 8.62%, which compares to an average yield of 7.63% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
As of last close, INN.PRA was trading at a 7.36% premium to its liquidation preference amount. The chart below shows the one year performance of INN.PRA shares, versus INN:
Below is a dividend history chart for INN.PRA, showing historical dividends prior to the most recent $0.5781 on Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock :
According to the ETF Finder at ETF Channel, Summit Hotel Properties Inc (INN) makes up 2.65% of the KBW Premium Yield Equity REIT Portfolio ETF (KBWY) which is trading relatively unchanged on the day Monday.