Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sun, December 5, 6:43 AM
|This Slide: #180 of 573|
Slide #180. Summit Hotel Properties, Inc. — Preferred Stock Offering
Summit Hotel Properties, Inc. (NYSE:INN)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") announced today that it has priced an underwritten public offering of 6,400,000 shares of its 6.25% Series E Cumulative Redeemable Preferred Stock (the "Series E Preferred Stock") at a public offering price of $25.00 per share, for gross proceeds of $160 million. The offering is expected to close on November 13, 2017, subject to customary closing conditions.
Summit Hotel Properties is a real estate investment trust and a self-managed hotel investment holding company. Substantially all of Co.'s assets are held by, and all of its operations are conducted through, its operating partnership, Summit Hotel OP, LP (the Operating Partnership). Through a wholly-owned subsidiary, Co. is the sole general partner of the Operating Partnership. Co. focuses on owning primarily select-service hotels. All of Co.'s guestrooms are operated under franchise brands owned by Marriott® International, Inc., Hilton® Worldwide, Hyatt® Hotels Corporation and InterContinental® Hotels Group.
Open the INN Page at Preferred Stock Channel »
Free INN Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Buy (3.00 out of 4)
(ranked lower than approx. 76% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com