Reminder: Summit Hotel Properties Series C Cumulative Redeemable Preferred Stock Goes Ex-Dividend Soon

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On 2/12/14, Summit Hotel Properties Inc's 7.125% Series C Cumulative Redeemable Preferred Stock (Symbol: INN.PRC) will trade ex-dividend, for its quarterly dividend of $0.4453, payable on 2/28/14. As a percentage of INN.PRC's recent share price of $22.30, this dividend works out to approximately 2.00%, so look for shares of INN.PRC to trade 2.00% lower - all else being equal - when INN.PRC shares open for trading on 2/12/14. On an annualized basis, the current yield is approximately 8.00%, which compares to an average yield of 7.60% in the "Real Estate" preferred stock category, according to Preferred Stock Channel . 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

According to the ETF Finder at ETF Channel, Summit Hotel Properties Inc (Symbol: INN) makes up 2.69% of the KBW Premium Yield Equity REIT Portfolio ETF ( KBWY ) which is trading relatively unchanged on the day Monday.

In Monday trading, Summit Hotel Properties Inc's 7.125% Series C Cumulative Redeemable Preferred Stock (Symbol: INN.PRC) is currently up about 0.1% on the day, while the common shares (Symbol: INN) are trading flat.

Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Investing Ideas

Referenced Stocks: KBWY , INN.PRC , INN

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