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
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