In trading on Monday, shares of Supertel Hospitality Inc's 8% Series A Convertible Preferred Stock (SPPRP) were yielding above the 9% mark based on its monthly dividend (annualized to $0.80), with shares changing hands as low as $8.65 on the day. This compares to an average yield of 7.46% in the "REITs" preferred stock category, according to Preferred Stock Channel. As of last close, SPPRP was trading at a 7.40% discount to its liquidation preference amount, versus the average discount of 2.10% in the "REITs" category. It should be noted that the preferred shares are convertible, with a conversion ratio of 1.77.
Supertel Hospitality's Series A Preferred Stock Shares Cross 9% Yield Mark
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.