Summit Hotel Properties' Series A Preferred Stock Shares Cross 8.5% Yield Mark

In trading on Friday, shares of Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock ( INN.PRA) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $2.3125), with shares changing hands as low as $27.13 on the day. This compares to an average yield of 6.89% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, INN.PRA was trading at a 8.96% premium to its liquidation preference amount, versus the average premium of 1.73% in the "Real Estate" category.

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 dividend payments on Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock :

INN.PRA+Dividend+History+Chart

In Friday trading, Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock ( INN.PRA) is currently down about 0.4% on the day, while the common shares ( INN) are down about 0.8%.

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