Summit Hotel Properties' Series C Preferred Stock About To Put More Money In Your Pocket

On 5/14/14, Summit Hotel Properties Inc's 7.125% Series C Cumulative Redeemable Preferred Stock (INN.PRC) will trade ex-dividend, for its quarterly dividend of $0.4453, payable on 5/30/14. As a percentage of INN.PRC's recent share price of $24.70, this dividend works out to approximately 1.80%, so look for shares of INN.PRC to trade 1.80% lower — all else being equal — when INN.PRC shares open for trading on 5/14/14. On an annualized basis, the current yield is approximately 7.20%, which compares to an average yield of 7.13% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

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As of last close, INN.PRC was trading at a 1.00% discount to its liquidation preference amount, versus the average premium of 0.72% in the "Real Estate" category. 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 dividends prior to the most recent $0.4453 on Summit Hotel Properties Inc's 7.125% Series C Cumulative Redeemable Preferred Stock :

INN.PRC+Dividend+History+Chart

In Monday trading, Summit Hotel Properties Inc's 7.125% Series C Cumulative Redeemable Preferred Stock ( INN.PRC) is currently off about 0.2% on the day, while the common shares ( INN) are trading flat.

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