Cash Dividend On The Way From Summit Hotel Properties Series A Cumulative Redeemable Preferred Stock

On 11/13/13, Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock (INN.PRA) will trade ex-dividend, for its quarterly dividend of $0.5781, payable on 11/29/13. As a percentage of INN.PRA's recent share price of $26.70, this dividend works out to approximately 2.17%, so look for shares of INN.PRA to trade 2.17% lower — all else being equal — when INN.PRA shares open for trading on 11/13/13. On an annualized basis, the current yield is approximately 8.62%, which compares to an average yield of 7.63% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

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As of last close, INN.PRA was trading at a 7.36% premium to its liquidation preference amount.The chart below shows the one year performance of INN.PRA shares, versus INN:

Performance Comparison Chart

Below is a dividend history chart for INN.PRA, showing historical dividends prior to the most recent $0.5781 on Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock :

INN.PRA+Dividend+History+Chart

According to the ETF Finder at ETF Channel, Summit Hotel Properties Inc ( INN) makes up 2.65% of the KBW Premium Yield Equity REIT Portfolio ETF (KBWY) which is trading relatively unchanged on the day Monday.

In Monday trading, Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock ( INN.PRA) is currently down about 0.5% on the day, while the common shares ( INN) are off about 0.3%.

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