Summit Hotel Properties' Series B Preferred Stock Yield Pushes Past 8%

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.

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

Performance Comparison Chart

Below is a dividend history chart for INN.PRB, showing historical dividend payments on Summit Hotel Properties Inc's 7.875% Series B Cumulative Redeemable Preferred Stock:

INN.PRB+Dividend+History+Chart

In Friday trading, Summit Hotel Properties Inc's 7.875% Series B Cumulative Redeemable Preferred Stock ( INN.PRB) is currently down about 0.2% on the day, while the common shares ( INN) are up about 2.9%.

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