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
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