Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thu, May 21, 12:23 PM
| This Slide: #272 of 665 |
Slide #272. Summit Hotel Properties, Inc. — Preferred Stock Offering
| Company: | Summit Hotel Properties, Inc. (NYSE:INN) |
| Date announced: | 11/2/2017 |
| Shares Offered: | 6,400,000 |
| Date of Pricing: | 11/2/2017 |
| Price Per Share: | $25.00 |
| 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, Inc. is a real estate investment trust. Co. is focused on owning premium-branded lodging properties with operating models primarily in the upscale segment of the lodging industry. Its portfolio consists of approximately 96 assets, 54 of which are wholly owned, with a total of 14,256 guestrooms located in 24 states. Its properties are located in markets with multiple demand generators, such as corporate offices and headquarters, retail centers, airports, state capitols, convention centers, universities, and leisure attractions.
Preferreds: INN.PRA, INN.PRB, INN.PRC, INN.PRD, INN.PRE, INN.PRF
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Hold (2.29 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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