In trading on Monday, shares of Summit Hotel Properties Inc's 7.875% Series B Cumulative Redeemable Preferred Stock (INN.PRB) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.9688), with shares changing hands as low as $26.20 on the day. This compares to an average yield of 6.82% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, INN.PRB was trading at a 5.16% premium to its liquidation preference amount, versus the average premium of 1.59% in the "Real Estate" category.The chart below shows the one year performance of INN.PRB shares, versus INN:
Summit Hotel Properties' Series B Preferred Stock Shares Cross 7.5% 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.