Austin's Summit Hotel Properties Declares a Third-Quarter Dividend of 8 Cents a Share
The Austin-based hotel REIT will pay its third-quarter common dividend on November 30 to holders of record on November 16. Its portfolio stands at 92 hotels and 14,027 rooms across 24 states.
Summit Hotel Properties, the Austin-based real estate investment trust, announced on Tuesday that its board has declared a cash dividend for the third quarter of $0.08 per share of common stock, the company said in a release. The dividend represents an annualized yield of 4.6 percent based on the closing price of the stock on Monday, October 26.
The board also declared the period's preferred dividends: $0.390625 per share on the company's 6.25% Series E cumulative redeemable preferred stock and $0.3671875 per share on its 5.875% Series F preferred stock, each for the dividend period ending November 30. A distribution of $0.328125 per unit was declared on the operating partnership's 5.25% Series Z perpetual preferred units for the same period.
All of the dividends are payable on November 30, 2026, to holders of record as of November 16, 2026, the company said.
Summit is a publicly traded REIT, listed on the New York Stock Exchange as INN, focused on premium-branded hotels with efficient operating models in the upscale segment. As of Tuesday, its portfolio consisted of 92 assets — 50 of them wholly owned — with a total of 14,027 guestrooms located in 24 states, according to the release.
