Summit Hotel Properties Series A Cumulative Redeemable Preferred Stock Ex-Dividend Reminder - 2/12/14

On 2/12/14, 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 2/28/14. As a percentage of INN.PRA's recent share price of $26.83, this dividend works out to approximately 2.15%, so look for shares of INN.PRA to trade 2.15% lower — all else being equal — when INN.PRA shares open for trading on 2/12/14. On an annualized basis, the current yield is approximately 8.52%, which compares to an average yield of 7.60% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

START SLIDESHOW:
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »

As of last close, INN.PRA was trading at a 8.52% 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 2.69% 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 off about 1.1% on the day, while the common shares ( INN) are trading flat.

If you liked this article you might like

Pebblebrook Hotel Trust Is a Great Stock to Buy Right Now

Pebblebrook Hotel Trust Is a Great Stock to Buy Right Now

Why It Might Be Time to Start Checking Out of Hotel Stocks

Why It Might Be Time to Start Checking Out of Hotel Stocks

These 2 Under-the-Radar REITs Are Bargains Based on Total Returns

These 2 Under-the-Radar REITs Are Bargains Based on Total Returns

Summit Hotels Is an Undervalued Yield Play

Summit Hotels Is an Undervalued Yield Play

Summit Hotel Properties (INN) Highlighted As Strong And Under The Radar Stock Of The Day

Summit Hotel Properties (INN) Highlighted As Strong And Under The Radar Stock Of The Day