On 5/14/13, Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock (NYSE: INN.PRA) will trade ex-dividend, for its quarterly dividend of $0.5781, payable on 5/31/13. As a percentage of INN.PRA's recent share price of $27.93, this dividend works out to approximately 2.07%, so look for shares of INN.PRA to trade 2.07% lower ? all else being equal ? when INN.PRA shares open for trading on 5/14/13. On an annualized basis, the current yield is approximately 8.26%, which compares to an average yield of 6.27% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.
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