Summit Hotel Properties' Series C Preferred Stock Shares Cross 8% Yield Mark

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.

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The chart below shows the one year performance of INN.PRC shares, versus INN:

Performance Comparison Chart

Below is a dividend history chart for INN.PRC, showing historical dividend payments on Summit Hotel Properties Inc's 7.125% Series C Cumulative Redeemable Preferred Stock :

INN.PRC+Dividend+History+Chart

In Friday trading, Summit Hotel Properties Inc's 7.125% Series C Cumulative Redeemable Preferred Stock ( INN.PRC) is currently down about 0.3% on the day, while the common shares ( INN) are off about 0.1%.

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