In trading on Friday, shares of Summit Hotel Properties Inc's 7.125% Series C Cumulative Redeemable Preferred Stock (INN.PRC) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.7812), with shares changing hands as low as $22.12 on the day. This compares to an average yield of 7.60% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, INN.PRC was trading at a 10.84% discount to its liquidation preference amount, versus the average discount of 4.31% in the "Real Estate" category.
Summit Hotel Properties' Series C Preferred Stock Shares Cross 8% 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.