Preferred Stock Channel
Summit Hotel Properties Inc | 6.250% Series E Cumulative Redeemable Preferred Stock (INN.PRE)

Prospectus excerpt:  Summit Hotel Properties, Inc. is offering 6,400,000 shares of its 6.250% Series E Cumulative Redeemable Preferred Stock, $0.01 par value per share, or the Series E Preferred Stock. Dividends on the Series E Preferred Stock will be payable quarterly in arrears on or about the last day of February, May, August and November of each year. The dividend rate is 6.250% per annum of the $25.00 liquidation preference, which is equivalent to $1.5625 per share of Series E Preferred Stock. The first dividend on the Series E Preferred Stock sold in this offering will be paid on November 30, 2017 and will be in the amount of $0.06944 per share.

Full Prospectus PDF », INN Page »

Series:E
Alternate symbology:INN-E, INN-PE, INNprE
Redeemable?:Yes
Call Date:11/13/2022
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:6,400,000
Liquidation Preference:$25
Recent Market Price:$17.25
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-7.75 (-31.00%)
Annualized Dividend:1.5625
Recent Ex-Date:5/15/2020
Current Yield:3.62%
Original Coupon:6.25%
Pay Period:Quarterly
Pay Dates:28-Feb, 30-May, 31-Aug, 30-Nov
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. Majority of Co.'s guestrooms were operated under franchise brands owned by Marriott® International, Inc., Hilton® Worldwide, Hyatt® Hotels Corporation and InterContinental® Hotels Group.

Preferreds: INN.PRA, INN.PRB, INN.PRC, INN.PRD, INN.PRE


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Name:  Summit Hotel Properties Inc
Website:  www.shpreit.com
Sector:  REITs
Number of ETFs Holding INN:  52 (see which ones)
Total Market Value Held by ETFs:  $144,338,506
Total Market Capitalization:  $577,000,000
% of Market Cap. Held by ETFs:  25.02%

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