Summit Hotel Properties Series A Cumulative Redeemable Preferred Stock Crosses Above 9% Yield Territory

In trading on Friday, shares of Summit Hotel Properties Inc's 9.25% Series A Cumulative Redeemable Preferred Stock (NYSE: INN.PRA) were yielding above the 9% mark based on its quarterly dividend (annualized to $2.3125), with shares changing hands as low as $25.68 on the day. This compares to an average yield of 7.02% in the "Real Estate" preferred stock category, according to Preferred Stock Channel. As of last close, INN.PRA was trading at a 8.20% premium to its liquidation preference amount, v...