In trading on Friday, shares of Summit Hotel Properties Inc's 7.875% Series B Cumulative Redeemable Preferred Stock (INN.PRB) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.9688), with shares changing hands as low as $24.60 on the day. This compares to an average yield of 7.33% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, INN.PRB was trading at a 0.00% premium to its liquidation preference amount, versus the average discount of 1.94% in the "Real Estate" category.
Summit Hotel Properties' Series B Preferred Stock Yield Pushes Past 8%
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