Summit Hotel Properties' Series F Preferred Stock Crosses Above 8% Yield TerritoryBy Preferred Stock Channel Staff, Wednesday, August 16, 2:06 PM ETIn trading on Wednesday, shares of Summit Hotel Properties Inc's 5.875% Series F Cumulative Preferred Stock (NYSE:INN.PRF) were yielding above the 8% mark based on its quarterly dividend (annualized to $1.4688), with shares changing hands as low as $17.80 on the day. This compares to an average yield of 8.14% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, INN.PRF was trading at a 25.48% discount to its liquidation preference amount, versus the average discount of 17.93% in the "Real Estate" category. The chart below shows the one year performance of INN.PRF shares, versus INN:
Below is a dividend history chart for INN.PRF, showing historical dividend payments on Summit Hotel Properties Inc's 5.875% Series F Cumulative Preferred Stock:
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation. In Wednesday trading, Summit Hotel Properties Inc's 5.875% Series F Cumulative Preferred Stock (NYSE:INN.PRF) is currently down about 2.5% on the day, while the common shares (NYSE:INN) are up about 0.2%.
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